Endoscope Maker Linked to Outbreaks Reserves $450M for Potential Settlement in Marketing Investigation
Medical device maker Olympus -- which has come under fire recently for its production of endoscopes that were linked to a superbug outbreak at two California hospitals this year -- has reserved nearly $450 million for an anticipated settlement in response to a U.S. investigation into its marketing. Olympus told shareholders about the investigation in February. The company did not disclose specifics about the investigation but said the focus was on potential violations of laws that prohibit companies from paying kickbacks to physicians and other customers.
- "Scope Maker Olympus Expects To Settle U.S. Claims Over Marketing" (Peterson, Los Angeles Times, 5/27).