GREENSBORO–Bioventus, a global medical technology company, has agreed to pay the government $3,609,087.00 to resolve allegations that Bioventus  violated the False Claims Act.

The allegations say Bioventus violated the Act by submitting improperly completed certificates of medical necessity (CMN) for medically unnecessary devices from October 1, 2012 through  December 31, 2018, U.S. Attorney Matthew G. T. Martin for the Middle District of North  Carolina announced.

Bioventus, which self-disclosed the problem, completed a review of such claims with improperly completed CMNs to verify the medical records supported the medical necessity of the Exogen devices. Bioventus fully cooperated with the government’s investigation of the self-disclosure.

“Medicare funds must only be appropriately dispensed for medically necessary purposes and to those who comply with all rules and regulations,” said Matthew G.T.  Martin, United States Attorney for the Middle District of North Carolina.

“We appreciate  Bioventus’s disclosure of these issues and hope this matter reminds other Medicare enrollees that they must have internal controls in place to ensure proper compliance with  Medicare. Better to catch it and self-disclose than for us to discover it and come calling”

Bioventus is preparing is raising a mezzanine round as it looks toward an IPO.

Triangle life science firm Bioventus gears up for IPO, looking to raise $125M or more