An earlier investigation alleged Biomet bribed government officials in Argentina, Brazil and China and falsified records to hide the payments.
In 2012, Biomet and the Justice Department entered into a deferred prosecution agreement (DPA) related to those charges.
"Even after the 2012 DPA between the department and Biomet, the company knowingly and willfully continued to use a third-party distributor in Brazil known to have paid bribes to government officials on Biomet’s behalf," the release stated.
Under the agreement, the company agreed to pay $17.4 million in civil penalties and hire an independent corporate compliance monitor for three years.
Additionally, Biomet agreed to pay the US Securities and Exchange Commission $6.5 million in pre-judgment interest and $6.5 million in penalties for a related case.