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Medtronic, DOJ reach settlement agreement

Medtronic has reached a settlement agreement with the US Department of Justice (DOJ).

The settlement agreement is regarding previously disclosed industry-wide review of post-market clinical trials and device registries.

Medtronic will pay $23.5 m to resolve DOJ’s investigation of four post-market studies, under the settlement agreement.

Medtronic said that it will complete its full payment in the fourth quarter of fiscal year 2011.

Medtronic Cardiac and Vascular Group clinical research and reimbursement vice president Marshall Stanton said it is happy to have this investigation behind them, so they can continue designing and executing clinical trials that create evidence to improve patient care, outcomes, and cost effectiveness.