"These and other kickbacks helped OCA obtain more than $600 million in sales and realize gross profits of more than $230 million," the Justice Department complaint alleged, adding that, "unlike other medical and surgical products companies, Olympus did not create the position of compliance officer until 2009 and did not hire an experienced compliance professional until August 2010."

Olympus Corporation of the Americas’ President and CEO Nacho Abia responded to the charges and settlement in a statement, noting that, “Olympus leadership acknowledges the Company’s responsibility for the past conduct, which does not represent the values of Olympus or its employees."


Abia added that the company has now implemented and will continue to enhance its "robust compliance program.”

In addition to enhancing compliance training and maintaining an effective compliance program, the deal also requires Olympus to maintain a confidential hotline and website for its employees and customers to report wrongdoing; for its CEO and board to certify annually that the program is effective; and for it to create a program that can recoup as much as three years of performance pay from any executive found to engage in misconduct or to fail to promote compliance.

As for Olympus Latin America, noted the Justice statement, that firm "admitted to bribing publicly employed health care providers and hospital officials across Central and South America so that it could illegally win business and sell its products,” said General Bitkower, principal deputy assistant attorney. “OLA’s illegal tactics in Central and South America mirrored Olympus’s conduct in the United States."

The civil settlement also resolves the whistleblower False Claims Act suit filed by former Olympus Chief Compliance Officer John Slowik. He will get a part of the recovery, as the law stipulates, coming to $44,102,573 million from the federal share and $7 million from the state share, according to Corporate Crime Reporter.

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