New York Medicaid Program To Receive Over $7.7 Million Dollars

Settlement Amount:

$7,700,000

On May 2, 2016, Attorney General Schneiderman announced that New York’s Medicaid program will receive over $7.7 million from a settlement reached to resolve False Claims Act Allegations against Olympus Corporation. The allegations arose by a lawsuit claiming Olympus, a subsidiary of Olympus Corporation of Japan, which is headquartered in Center Valley, between January 1, 2006 and December 31, 2011 paid illegal kickbacks to healthcare providers.

Olympus used financial incentives to persuade healthcare providers to buy a variety of endoscopes and other surgical equipment manufactured by Olympus. These financial incentives allegedly took the form of grants, fellowships, consulting payments, free trips, no charge loans for equipment along with other incentives.

The national settlement is $306 million, with the New York Medicaid Program receiving over $7.7 million dollars in damages.

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New York Medicaid Program To Receive Over $7.7 Million Dollars

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