SEC Investigation of Misonix, Inc. Ends With No Action
June 20 2019 - 11:00AM
Misonix, Inc. (Nasdaq: MSON) (“Misonix”), a provider of minimally
invasive therapeutic ultrasonic medical devices that enhance
clinical outcomes, today announced that it has received a letter
from the Division of Enforcement of the Securities and Exchange
Commission (the “SEC”) on June 18, 2019, stating that the SEC has
concluded its investigation of Misonix and that, based on the
information it has as of the date of the letter, it does not intend
to recommend an enforcement action by the SEC against Misonix with
respect to the matters described below.
As previously disclosed, with the assistance of outside counsel,
Misonix conducted a voluntary investigation into the business
practices of the independent Chinese entity that previously
distributed Misonix’s products in China and Misonix’s knowledge of
those business practices, which may have had implications under the
U.S. Foreign Corrupt Practices Act, as well as into various
internal controls issues identified during the investigation. On
September 27, 2016 and September 28, 2016, Misonix voluntarily
contacted the SEC and the Department of Justice, respectively, to
advise both agencies of these potential issues and has fully
cooperated with those agencies in their subsequent inquiry and
investigation relating to these matters.
Stavros Vizirgianakis, President and Chief
Executive Officer of Misonix, commented, “We are pleased the SEC
has concluded its investigation without recommending any
enforcement action. Looking ahead, we remain focused on executing
on our long-range strategic growth plan with the goal of creating
added shareholder value and will continue to seek to operate at the
highest levels of ethics, transparency and compliance while
maintaining our overarching commitment to improving patient
outcomes.”
About Misonix, Inc.
Misonix, Inc. (NASDAQ: MSON) designs,
manufactures and markets ultrasonic medical devices for the precise
removal of hard and soft tissue, including bone removal, wound
debridement and ultrasonic aspiration. Misonix is focused on
leveraging its proprietary ultrasonic technology to become the
standard of care in operating rooms and clinics around the world.
Misonix's proprietary ultrasonic medical devices are used in a
growing number of medical procedures, including spine surgery,
neurosurgery, orthopedic surgery, cosmetic surgery, laparoscopic
surgery, and other surgical and medical applications. At Misonix,
Better Matters to us. That is why throughout the Company’s history,
Misonix has maintained its commitment to medical technology
innovation and the development of ultrasonic surgical products that
radically improve patient outcomes. Additional information is
available on the Company's web site at www.misonix.com.
Contact: Joe Dwyer
Norberto
Aja, Jennifer NeumanChief Financial
Officer
JCIRMisonix, Inc.
212-835-8500 or mson@jcir.com631-927-9113
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