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Zimmer Biomet to settle bribery charges with U.S. prosecutors - filing
December 9, 2016 / 12:57 AM / 9 months ago

Zimmer Biomet to settle bribery charges with U.S. prosecutors - filing

WASHINGTON, Dec 8 (Reuters) - U.S. authorities will reach a settlement with medical device maker Zimmer Biomet Holdings Inc over bribery allegations in the next four weeks, prosecutors said in a court filing Thursday.

The new agreement would replace a 2012 settlement with the U.S. Justice Department over allegations that Biomet paid bribes to state-employed healthcare providers in Argentina, Brazil and China in order to win business.

Prosecutors said in June that Biomet breached that agreement after the company came forward with new allegations of misconduct in Mexico and Brazil.

The U.S. Foreign Corrupt Practices Act makes it a crime to bribe overseas officials to gain business.

A spokesman for Indiana-based Biomet, which was acquired by Zimmer Holdings last year, did not immediately respond to a request for comment.

On Thursday, prosecutors said they would soon reach a new agreement.

“The parties have made substantial progress in those discussions and expect to resolve this matter within approximately four weeks,” prosecutors said in the filing in Washington, D.C. federal court.

Reporting by Joel Schectman; Editing by Lisa Shumaker

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