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Boston Scientific Corporation, a maker of medical devices, agreed Wednesday to a $22 million settlement with the U.S. Department of Justice, following an investigation into a Boston Scientific subsidiary.
The investigation, which began in 2005, relates to post-market surveys conducted by Guidant Corp. before Boston Scientific acquired Guidant in 2006. The DOJ alleged Guidant used the studies to pay kickbacks to doctors to induce them to use its heart devices.
Boston Scientific said the settlement does not include any admission of wrongdoing by the company.
Boston Scientific also agreed to enter into a Corporate Integrity Agreement (CIA) with the Office of Inspector General for the U.S. Department of Health and Human Services. Specifically, the company will have to disclose certain payments to doctors on a website.
Boston Scientific’s (NYSE:BSX) shares closed at $8.82 on Wednesday, up slightly from the previous close of $8.80.
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