Medtronic Received U.S. Subpoena on Sales of Brain Stimulation Devices
Medtronic Inc., the largest maker of heart devices, said it received a subpoena from the U.S. Attorney in western New York related to sales, marketing and reimbursement practices for its brain stimulation products.
Medtronic received the U.S. inquiry on Oct. 14 and is cooperating with the investigation, the Minneapolis-based company said today in a regulatory filing.
The Medtronic neuromodulation division reported sales of $1.6 billion last year. The unit makes stopwatch-size implantable devices that are used to reduce chronic pain, stimulate movement for such diseases as Parkinson’s and treat psychiatric disorders.
“We have no comment beyond what we state in the filing,” Medtronic spokesman Brian Henry said today in an e-mail.
To contact the reporter on this story: David Olmos in San Francisco at dolmos@bloomberg.net
To contact the editor responsible for this story: Reg Gale at Rgale5@bloomberg.net
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