Zimmer says SEC investigating possible corruption

October 12, 2007
Warsaw-based Zimmer Holdings Inc. disclosed in a U.S. Securities and Exchange Commission filing today that it is under investigation for potential violations of the Foreign Corrupt Practices Act in its sales of medical devices in foreign countries.

The prosthetics maker did not elaborate but added that it will cooperate with the SEC investigation.

Yesterday, Biomet Inc., a cross-town rival in the northern Indiana city, made a similar disclosure.

Biomet and three other orthopedics firms paid $311 million last month to settle civil and criminal investigations into whether they paid kickbacks to surgeons to use their products. Biomet's share of the settlement was $26.9 million.
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