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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-09-26T20:19:00
A Philips subsidiary agreed to pay approximately $1.3 million to settle charges it unlawfully paid kickbacks as part of its second resolution addressing alleged False Claims Act (FCA) violations this month.
Philips RS North America, formerly known as Respironics, manufactures durable medical equipment (DME) specializing in sleep aid products. The company unlawfully induced referrals for its equipment in violation of the FCA and anti-kickback statute, the Department of Justice (DOJ) announced in a press release Thursday.
In the case, which grew out of a 2017 whistleblower lawsuit filed in U.S. District Court for the District of Northern Iowa, Respironics was alleged to have helped DME suppliers purchase Respironics equipment by helping the suppliers to secure interest-free loans fully guaranteed by Respironics. The loans acted as an inducement for the DME suppliers to recommend Respironics’ equipment for Medicare and Medicaid patients, according to the settlement agreement.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2023-12-20T14:41:00Z By Kyle Brasseur
Wireless medical technology company BioTelemetry and its subsidiary LifeWatch Services agreed to pay more than $14.7 million as part of a settlement with the Department of Justice regarding alleged false claims submitted to federal healthcare programs.
2023-05-12T14:19:00Z By Aaron Nicodemus
Dutch conglomerate Royal Philips will pay more than $62 million to settle allegations it violated the Foreign Corrupt Practices Act when its subsidiaries engaged in improper conduct to win contracts in China.
2022-09-27T19:04:00Z By Adrianne Appel
Biogen finalized a $900 million settlement concerning alleged kickbacks it paid to doctors to induce them to prescribe the company’s drugs and not those of its competitors.
2024-11-22T14:39:00Z By Aaron Nicodemus
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
2024-11-21T20:19:00Z By Oscar Gonzalez
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
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