August 9, 2012 / 12:27 PM / 5 years ago

Nordion begins probe into potential improper payments

TORONTO (Reuters) - Medical isotope provider Nordion Inc NDN.TO NDZ.N said it has begun an internal probe into potential improper payments and other related financial irregularities in connection with the supply of materials and services to the company.

Ottawa-based Nordion said in a release issued late on Wednesday that it is investigating whether the actions ran afoul of U.S. and Canadian anti-corruption laws.

Nordion said outside legal counsel and external forensic and accounting firms, experts in such compliance matters, are conducting the investigation.

It did not name either the parties involved in the potential transactions or the firms leading the probe.

The company said its external advisors are reporting to a special committee of the board formed to deal with the matter.

Nordion said it has voluntarily contacted regulatory and law enforcement authorities in Canada and the United States to give them details of the matter and advise them that an internal investigation is underway.

It promised to cooperate with regulatory and law enforcement authorities.

Reporting by Euan Rocha; Editing by Janet Guttsman

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