Stryker to pay $13.2 mln to settle civil bribery charges (press release)
Stryker (download 4-page analysis of Stryker HERE) agreed to pay >US $13.2MM to settle alleged violations of the Foreign Corrupt Practices Act by bribing doctors and government-employed officials in 5 countries to obtain or retain business. (Sources: Reuters and SEC.gov)
REUTERS – Medical device maker Stryker Corp will pay $13.2 million to settle civil charges alleging the company bribed doctors and government officials to win business in five different countries, U.S. regulators said Thursday.
The Securities and Exchange Commission said that the company tried to mask its $2.2 million bribes in Argentina, Greece, Mexico, Poland and Romania by booking them as legitimate expenses for charitable donations, travel costs and commissions.
Stryker is settling the case without admitting or denying the charges.