Posts from — March 2006

Following the Enron and Worldcom scandals, the US responded by passing the Sarbanes-Oxley (SOX) law in July 2002, which requires inter alia CEOs and CFOs of companies listed in the US to certify the accuracy of their accounts with the SEC. It increases penalties for violations by up to 25 years in prison, by flouting the principle of the territoriality of laws. Its extra-territorial effect goes well beyond the borders of the US since it applies not only to US-listed companies but to their subsidiaries worldwide.

In France, SOX raises many legal, as well as cultural, difficulties. The challenge consists in finding adequate control mechanisms that allow fulfilling SOX requirements but that are compatible with French rules and practices.

This has lead to Codes of Ethics being created or expanded to cover the employees of non-US entities, regardless of the country they work in.
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The Company is based in the heart of the region and is a specialty distributor of value added medical device products.

The owners have blue chip US medical device company backgrounds in cardio vascular, orthopedics and several other specialties.

In order to help fund its expansion into the fast growing Eastern and Central European medical device markets, the company is looking for qualified investors.

This may be of particular interest to medical device companies seeking to expand their presence in the region.

Contact Frank Barlin in confidence at Sibaya Healthcare Consultants.