Washington: Dutch medical device manufacturer Phillips It will pay $62 million (€56 million) to settle the alleged violations. Foreign Corrupt Practices Act Regarding acts related to the sale of Medical equipment To China, US Securities and Exchange Commission said Thursday.
Phillips It said the settlement relates to allegations of “misconduct in the medical device industry.” China Between 2014 and 2019, we recorded a provision in the fourth quarter of last year.
“Without admitting or denying the SEC’s allegations, Phillips will pay a total of approximately $62 million in disgorgement, civil penalties and prejudgment interest,” the company said in a statement issued Friday.
of U.S. Department of Justice (Department of Justice) was now closed Parallel research On the matter, the Amsterdam-based company added:
In its 2022 annual report, Philips said it had set aside 60 million euros for SEC and Justice Department investigations into allegations of bid fraud it said it was responding to in China, Brazil and Bulgaria.
