Friday, April 23, 2021

Justice Department Drops Foreign Bribery Probe Into Medical Device Maker Misonix

-

The U.S. Justice Department has closed a foreign bribery investigation into medical device maker Misonix Inc. ’s former distributor in China, the company said.

The Farmingdale, N.Y.-based manufacturer of ultrasonic medical devices received a letter from the Justice Department last week saying there won’t be any enforcement action in connection with its China business, the company said in a securities filing made last Friday.

The decision follows a separate move by the U.S. Securities and Exchange Commission in June to end its own foreign bribery probe into the company.

Related: SEC probes Siemens, GE, Philips in alleged China medical equipment scheme
- Advertisement -

The investigations came to a close nearly three years after Misonix voluntarily alerted U.S. authorities to potential issues at its business in China, illustrating how long it can take for the government to decide whether a matter warrants an enforcement action.

The matter under scrutiny was related to the business practices of an independent Chinese entity that previously distributed Misonix’s products, according to its filing.

Misonix cooperated with the government in their parallel investigations, the company said.

Misonix didn’t respond to a request for further comment.

- Advertisement -
- Advertisement -

NEWSLETTER

Get our daily notification on the latest financial crimes news around the World

MUST READ

- Affiliate Products -

Advertisement
Advertisement

This Week

Enable Notifications    OK No thanks