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Prosecutors announces $311 million settlement in device case
NEWARK, New Jersey |
NEWARK, New Jersey (Reuters) - Federal prosecutors in New Jersey said on Thursday they have reached a $311 million settlement with companies in the medical device implant industry.
Under the pacts, the U.S. attorney in New Jersey said in a news release, Biomet, Johnson & Johnson unit Depuy Orthopaedics, Smith & Nephew Plc and Zimmer Holdings Inc will pay a combined $311 million.
A fifth company, Stryker Corp, will pay no civil settlement, but has agreed to reforms, including 18 months of federal monitoring, according to the news release.
(Reporting by Edith Honan and Martha Graybow)
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