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SI-BONE May Have Bribed Doctors

Medical device maker reveals federal probe and does nothing to reassure investors.

November 19, 2024

Last month SI-BONE, Inc. (SIBN), a medical device maker for musculoskeletal disorders, received a civil investigative demand (CID) from the Civil Division of the U.S. Department of Justice, Civil Division in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act.

The CID requested information and documents primarily relating to meals and consulting service payments provided to health care professionals.

Noticeably absent from the disclosure is anything from SI-BONE reassuring investors that kickbacks and bribes are not part of the company’s value proposition to doctors:

“The Company is cooperating with the Investigation but is currently unable to express a view regarding the likely duration, or ultimate outcome, of the Investigation or estimate the possibility of, or amount or range of, any possible financial impact.”

Depending on how the probe progresses, SI-BONE says there may be a material impact on the company’s future business results.

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