Reuters: Regulatory News: UPDATE 1-Orthofix settles DoJ probe on bone devices

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UPDATE 1-Orthofix settles DoJ probe on bone devices Jun 7th 2012, 16:27 Thu Jun 7, 2012 12:27pm EDT June 7 (Reuters) - Medical device maker Orthofix International NV will pay about $34 million to settle a probe by the U.S. Department of Justice concerning the promotion and marketing of its bone growth devices. The company's unit would also plead guilty to obstructing a federal audit and pay a fine of $7.8 million, subject to approval by a U.S. federal court, according to a regulatory filing. Orthofix, which sells the Physio-Stim bone growth stimulator, has already recorded a charge of $43 million in the first quarter of 2011 in anticipation of these settlements. The U.S. Department of Justice issued subpoenas in April 2009 seeking information related to these devices, according to Orthofix's regulatory filing from last month.

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