Biomet Announces Expiration of Deferred Prosecution Agreement

WARSAW, Ind.–(BUSINESS WIRE)–Biomet, Inc. announced today that the Deferred Prosecution Agreement (DPA) entered into effective September 27, 2007 with the United States Attorney’s Office for the District of New Jersey (USAO) has expired. The Company satisfied its obligations under the DPA and has received a Notice of Dismissal of the Complaint filed against it in this matter in the United States District Court for the District of New Jersey. Neither the DPA nor the Complaint alleged that the Company’s conduct adversely affected patient health or patient care.

The Company remains a party to a Corporate Integrity Agreement with the Office of the Inspector General of the U.S. Department of Health and Human Services, which will continue through September 2012.

Biomet’s President and Chief Executive Officer, Jeffrey R. Binder, stated: “Biomet is pleased to have successfully satisfied the requirements of the DPA. Over the past 18 months we have worked to strengthen the compliance policies and procedures for Biomet Orthopedics, such that we believe those current practices are best-in-class. We appreciate the productive manner in which our federally-appointed Monitor provided oversight and guidance throughout the term of the DPA. Biomet remains committed to upholding the highest standards of ethical and legal conduct and plans to continue the enhancement of its compliance programs throughout its global operations.”

Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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