Hollister Incorporated Announces Settlement Agreement

LIBERTYVILLE, Ill., May 4, 2016 /PRNewswire/ -- Hollister Incorporated ("Hollister") entered into a definitive settlement agreement with the U.S. Department of Justice (DOJ) to resolve certain allegations made against it in the civil qui tam litigation captioned United States ex rel. Herman, et al. v. Coloplast A/S, et al. The claims resolved by the settlement are allegations only because there has been no finding of wrongdoing.

The case was filed by one current and two former employees of Coloplast Corp. against Coloplast itself and eight other parties (including Hollister) involved in the manufacture or distribution of ostomy and continence care products in the U.S.   

The case alleged claims over certain marketing and sales practices of the defendants. There were no allegations of any negative impact to patient care. Hollister did not admit to any wrongdoing in its settlement.

Hollister voluntarily cooperated with the DOJ throughout the investigation. Hollister will not be subject to a corporate integrity agreement.

"Reaching a settlement in this type of case helps us avoid the delays, distractions, and expense that would have continued had we done otherwise" explains Timothy Murphy, Hollister's Vice President of Law. "It enables us to focus on our mission of providing quality products and services to our customers."

"Our compliance program is designed to ensure the conduct of all of our Associates is consistent with our strong corporate culture of compliance and high integrity," adds Timothy Murphy. "As an independent, 95-year-old, employee-owned company, our business is not driven by shareholder profit like public companies. Instead, we manage our business for the long term, working to ensure we fulfill our mission to make life more rewarding and dignified for people who use our products and services."

About Hollister Incorporated
Hollister Incorporated is an independent, employee-owned company that develops, manufactures, and markets healthcare products and services worldwide. The company manufactures products for ostomy care, continence care, and wound care, and also develops educational support materials for patients and healthcare professionals. Hollister Incorporated has been serving healthcare professionals and consumers for ninety-five years, and is committed to making life more rewarding and dignified for people who use the company's products and services. To learn more, visit Hollister.com.

Contact:
Joanne Gresavage, Director Corporate Communications
P: 847-680-1000
E: [email protected]

SOURCE Hollister Incorporated

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