BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius Medical Care (FMS) announced that it has decided to establish a provision of EUR 200 million in its 2017 annual financial statements with respect to its ongoing settlement negotiations with the U.S. government regarding conduct that may have violated provisions of the U.S. Foreign Corrupt Practices Act.
The company noted that this provision represents an estimate from a range of potential outcomes taking into account recent developments in the ongoing settlement negotiations with the U.S. Department of Justice and the U.S. Securities Exchange Commission.
The charge encompasses government agencies' claims for profit disgorgement, accruals for fines, certain legal and other consultancy expenses and other related costs or asset impairments.
In 2012, Fresenius Medical Care voluntarily advised the U.S. regulators about its investigations into this conduct.
Fresenius Medical Care also noted that settlement negotiations are continuing and have not yet achieved an agreement-in-principle; failure to reach agreement remains possible.
Copyright RTT News/dpa-AFX
© 2018 AFX News
