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MiMedx reportedly underneath Justice Division scrutiny on contracts, accounting

Biotech agency MiMedx Group, which jolted buyers final week by delaying its year-end earnings announcement, is underneath Justice Division scrutiny associated to a pair of enterprise practices, in keeping with folks acquainted with the matter.

Federal authorities are investigating whether or not the Georgia firm overcharged the federal government for its tissue-repair merchandise, stated an individual with data of the matter. The Justice Division can be trying into MiMedx’s distribution practices — together with whether or not it inappropriately booked gross sales of merchandise that hadn’t been ordered, a apply referred to as channel stuffing — in keeping with a number of others acquainted with that probe.

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