Press release November 27, 2019 Gothenburg, Sweden
Getinge enters into additional Settlement Agreements with authority in Brazil
Getinge has reached two Settlement Agreements with the Brazilian competition authority, the Administrative Council for Economic Defense (CADE), related to cases of anticompetitive practices.
The agreements include that Getinge will pay corporate fines of BRL 15.2 M, approximately SEK 35 M. The amount is included in the provision made by Getinge during the first quarter of 2018 for costs related to the Brazilian investigations and will not affect the operating profit further. The fines will be paid during the first quarter of 2020.
The cases are part of ongoing government investigations regarding anticompetitive practices relating to the sale of medical equipment made mainly to Brazilian public entities. The cases are mainly attributable to the years 2004-2017 and primarily concern Getinge’s Brazilian subsidiaries Maquet Cardiopulmonary do Brasil Comércio Ltda. and Getinge do Brasil Equipamentos Médicos Ltda.
Getinge has previously communicated that it has reached a Settlement Agreement with the Brazilian Federal Prosecutor’s Office (Ministério Público Federal) mainly related to the manipulation of tender procedures in Brazil. Negotiations are still ongoing with other relevant Brazilian authorities. Currently it cannot be ruled out that agreements with other authorities may have a material impact on Getinge’s results and financial position.
Anna Appelqvist, Vice President Corporate Communications
Phone: +46 (0)10 335 5906
With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 10,000 people worldwide and the products are sold in more than 135 countries.