The whistle blower in this lawsuit will receive $2.3 million and the U.S. government will receive $6 million. The suit claims Smith & Nephew sold devices to the U.S. government saying they were made in the United States when in reality they were made in Malaysia, which doesn’t have a trade agreement with the United States, according to the report.
Smith & Nephew is based in London but is a big player in the United States healthcare market. The company launched a new sales model after their recent second quarter financial report. The new model—Syncera—is a strategy to provide lower-cost implants and services to hospitals in the United States.
More articles on orthopedic devices:
NuVasive COO sells 2.5k shares in $87k transaction: 5 things to know
Precision Spine partnership to develop new artificial disc
15 spine devices receive FDA 510(k) clearance in August
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
