ArthroCare Corp. to Pay $1.5M in Reimbursement Settlement

ArthroCare Corp. has agreed to pay $1.5 million to Nationwide Mutual Insurance Company in a settlement regarding reimbursement claims, according to a filing with the U.S. Securities and Exchange Commission. The company, however, has not admitting wrongdoing.

The settlement specifically focuses on cases in which letters of protection were held by ArthroCare’s busidiary, DiscoCare Inc., the filing said.

In addition, according to the filing, ArthroCare has agreed that it will not seek payment from Nationwide on any pending SpineWand claims for which the SpineWand surgical device was provided in exchange for a letter of protection.

ArthroCare, a surgical instrumentation manufacturer, is headquartered in Austin, Texas.