The former orthopedic surgeon who blew the whistle on Biomet's kickback scheme in Brazil received in excess of $4.5 million for his role in the case, according to the Wall Street Journal.
Five things to know:
1. The Securities and Exchange Commission reported the payment was awarded Friday without identifying the company or whistleblower. However, WSJ discovered Zimmer Biomet made the payment associated with a 2017 settlement between the company and the U.S. Department of Justice.
2. In 2017, Zimmer Biomet paid around $30 million to settle allegations that before Zimmer acquired Biomet in 2015, Biomet violated the U.S. Foreign Corrupt Practices Act during dealings in Mexico and Brazil.
3. Biomet allegedly used its Mexican subsidiary to bribe customs officials to import contraband dental implants into the country. The DOJ also alleges Biomet used a third-party Brazilian distributor that bribed government officials for the company.
https://www.justice.gov/opa/pr/zimmer-biomet-holdings-inc-agrees-pay-174-million-resolve-foreign-corrupt-practices-act
4. The whistleblower, who stepped forward in 2013, has not been named, but WSJ reported the former orthopedic surgeon once served as president of the Brazilian Orthopedic Sports Medicine Society.
5. Zimmer Biomet declined to comment on the report, citing a policy against providing comments about legal matters.