GE HealthCare self-reported possible violations of the Foreign Corrupt Policies Act in China, according to The Wall Street Journal.
GE HealthCare filed a report with the Securities and Exchange Commission Oct. 31 noting "tender irregularities and other potential violations." The company already has had conversations with the Justice Department and SEC and plans to comply with any additional requests.
The filing didn't disclose specifics on the potential violations or possible consequences. The act prohibits bribing foreign officials to win or keep business, according to the Journal. GE HealthCare has enhanced compliance policies and practices since the issues were identified, according to the Journal.
GE HealthCare reported $4.8 billion third-quarter revenue on Oct. 31, up 5% year over year after spinning off from GE in January. The company's net income margin was 7.8%, and net income attributable to GE HealthCare dropped to $375 million from $487 million over the same period last year.