Stryker pleads guilty to selling unapproved devices, to pay $80 million

By Brendan Pierson (Reuters) - Medical device maker Stryker Corp will pay the U.S. government $80 million to settle charges that its OtisMed Corp subsidiary sold devices used in knee replacement surgery without approval from the U.S. Food and Drug Administration. OtisMed and its chief executive officer, Charlie Chi, 45, pleaded guilty to selling unapproved medical devices in federal court in Newark, New Jersey, on Monday, according to the New Jersey U.S. attorney's office. Chi is scheduled to be sentenced March 18. Kalamazoo, Michigan-based Stryker will pay a fine of $34. ...



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