FCPA Violations by Philips

FCPA Violations by PhilipsFCPA Violations requires Philips to pay pay disgorgement of $3,120,597 and prejudgment interest of $1,394,581 to the United States Treasury

FCPA Violations by Philips

Since at least 1999, Philips has participated in public tenders to sell medical equipment to Polish healthcare facilities. From 1999 through 2007, in at least 30 transactions, employees of Philips Poland made improper payments to public officials of Polish healthcare facilities to increase the likelihood that public tenders for the sale of  medical equipment would be awarded to Philips.

Representatives of Philips Poland entered into arrangements with officials of various Polish healthcare facilities whereby Philips submitted the technical specifications of its medical equipment to officials drafting the tenders who incorporated the specifications of Philips’ equipment into the contracts. Incorporating the specifications of Philips’ equipment in the tenders’ requirements greatly increased the likelihood that Philips would be awarded the bids.

Certain of the healthcare officials involved in the arrangements with Philips also decided whom to award the tenders, and when Philips was awarded the contracts , the officials were paid the improper payments by employees of Philips Poland.
The improper payments made by employees of Philips Poland to the Polish healthcare officials usually amounted to 3% to 8% of the contracts’ net value.

Koninklijke Philips Electronics N.V. is a Netherlands-based parent of an affiliation of companies that manufacture and supply goods and services related to healthcare,consumer lifestyle,lighting business sectors.

 

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