This is the medical-device maker’s first such disclosure, but it plans to provide the figures quarterly going forward, according to the report.
Beginning in 2012 under the new healthcare reform law, pharmaceutical companies, device manufacturers and medical supply companies will be required to make similar disclosures annually.
Of the $15.7 million Medtronic paid out, $14.2 million went to orthopedic specialists and orthopedic surgeons, most of which was for royalties for the physicians’ surgical inventions, according to a Wall Street Journal report.
Read the MinnPost report on Medtronic physician payments.
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