In a regulatory filing yesterday, the Warsaw, Ind.-based orthopedics giant said that the HHS Office of the Inspector General in June requested “a variety of records primarily related to our healthcare professional consulting arrangements (including in the areas of medical education, product development, and clinical research) for the period spanning January 1, 2010 to the present.”
Zimmer Biomet said the subpoena doesn’t say what the OIG is investigating “beyond reference to possible false or otherwise improper claims submitted for payment.”
“We are in the process of responding to the subpoena. We cannot currently predict the outcome of this investigation,” the company said in the filing.
ZBH shares closed down -1.8% at $115.04 apiece yesterday and slid a further -0.4% to $114.56 today in pre-market trading.