Biomet Settles SEC Allegations of Bribes Paid to Foreign Orthopedic Surgeons

WASHINGTON, D.C. - Biomet Inc. has agreed to pay federal officials more than $22 million to settle civil and criminal charges that it bribed medical providers in Brazil, China and Argentina to persuade them to use Biomet surgical materials, including hip and knee implant products. U.S. Securities and Exchange Commission v. Biomet, Inc., No. 12-cv-0454 (D. D.C.).

The final judgment between the U.S. Securities and Exchange Commission and Biomet ending the civil action was signed by Judge Rosemary M. Collyer and entered in the U.S. District Court for the District of Columbia on March 27.

Biomet agreed to waive …