Processing Magazine

Smith & Nephew pays $22 million to settle bribery claims, cuts 800 jobs

February 7, 2012

MEMPHIS, Tenn. — Medical device manufacturer Smith & Nephew announced Monday that it will pay $22 million to settle claims that it won business in Greece by bribing doctors, FiercePharma Manufacturing reported.

The company’s Memphis-based subsidiary will pay $16.8 million of the settlement.

The announcement came days after Smith & Nephew said it would cut about 800 jobs from its orthopedics unit.