The Securities and Exchange Commission ended its investigation into Misonix, a minimally invasive ultrasonic medical device company with products used in orthopedic and spine procedures.
Three things to know:
1. In September 2016, Misonix contacted the SEC and Department of Justice to report potential issues with the business practices of an independent Chinese entity that distributed the company's products in China. Misonix's knowledge of the conduct may have had implications under the U.S. Foreign Corrupt Practice Act.
2. Misnoix conducted a voluntary investigation into the Chinese entity's business practices and also found internal controls issues. The company cooperated with the SEC and DOJ investigations.
3. The EC did not recommend any additional action based on its investigation, which has ended.
"Looking ahead, we remain focused on executing on our long-range strategic growth plan with the goal of creating added shareholder value and will continue to seek to operate at the highest levels of ethics, transparency and compliance while maintaining our overarching commitment to improving patient outcomes," said Misonix President and CEO Stavros Vizirgianakis.