Getinge makes a provision of MBRL 240 related to Brazilian investigation
Getinge makes a provision of MBRL 240, corresponding to approximately MSEK 480, related to the previously announced negotiations with the Brazilian Comptroller General of the Union (CGU) involving violations of the Brazilian Clean Companies Act.
Getinge has previously provided information about investigations by Brazilian authorities involving wrongdoings relating to the sale of medical devices, mainly to public hospitals. These cases are primarily attributable to the years 2004-2017 and primarily concern Getinge’s Brazilian subsidiaries.
Getinge has now, in line with applicable accounting standards, made a reservation of MBRL 240, corresponding to approximately MSEK 480, related to anticipated costs related with this process. The provision is the result of an ongoing constructive dialogue to reach a conclusion in the settlement negotiations with the CGU and will be reported as an item affecting comparability that impacts the operating result for Q3 2024. The final and definitive costs will be determined when the settlement negotiations are concluded, and the amount could both fall short of and exceed the provision now made.
In addition to the investigations with CGU, Getinge has previously communicated that settlement agreements have been reached with the Brazilian Federal Prosecutor’s Office (Ministério Público Federal) in 2018 and the competition authority, Administrative Council for Economic Defense (CADE) in 2019, both related to anti-competitive practices relating to the sale of medical devices.
Investor Relations:
Lars Mattsson, SVP Corporate Development
Corporate Strategy | M&A | Investor Relations
Phone: +46 (0)10 335 0043
Email: [email protected]
This information is such that Getinge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on September 1, 2024, at 20.04 CEST.
About Getinge
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 approximately 12,000 people worldwide and the products are sold in more than 135 countries.
