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March 15, 2004

Cochlear under investigation in US

From: Dial Infolink Manufacturing - Australia - Mar 15, 2004

Cochlear is being investigated by the US Department of Justice. The bionic ear maker's wholly owned subsidiary, Cochlear Americas, is subject to an inquiry under federal health care laws in the USA that deal with the Medicare and Medicaid programs, including some with potential criminal sanctions.

The company has received a request for a variety of documents including those concerning Cochlear Americas' relationships with healthcare professionals. The Department of Justice has made no specific allegations.

Cochlear estimates that it will take four to six months to provide the requested documents.

CEO Chris Roberts said "This is a serious matter and we will be cooperating fully with the relevant authorities. As information becomes available, this will be communicated to the market where appropriate".

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