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United States v. Micrus Corp.

 
:
Micrus Corp. - Micrus Corp.
:
DOJ Criminal
:
February 28, 2005
:
United States v. Micrus Corp.
:
Matter resolved through non-prosecution agreement (Feb 2005).
:
The Department of Justice alleged anti-bribery violations on the basis that compensation received by various doctors in government-owned hospitals exceeded the value of the services the doctors performed as consultants or advisory board members to the defendant, and the excess compensation was intended to cause increased purchases of defendant's products.
:
Healthcare-Medical Devices
:
France, Germany, Spain, Turkey
:
Doctors at public hospitals in France, Turkey, Spain and Germany.
:
Micrus allegedly violated the FCPA by promising to pay or paying doctors at public hostpitals in France, Turkey, Spain, and Germany money or objects of value to influence them to purchase medical devices known as embolic coils, which allow minimally invasive treatment of neurovascular diseases. The payments were disguised in Micrus' books and records as stock options, honorariums and commissions. Micrus entered into a non-prosecution agreement with the DOJ, agreeing to pay a civil penalty of $450,000, to accept responsibility for its misconduct, to adopt a compliance program with an independent compliance monitor.
:
Civil penalty, Compliance Monitor, Non-prosecution Agreement
:
Civil penalty.
:
450,000
:
0
:
Domestic Concern
:
U.S.
:
Contract Procurement/Retention
:
Not stated.
:
Direct, Sales Agent/Consultant
:
105,000
:
No
:
No