The European Commission has initiated without warning an inspection at the facilities of a company specialising in medical devices for cardiovascular applications.
The surprise inspection of the unnamed company follows concerns that the firm has been abusing and breaching EU antitrust regulations, related to Article 102 of the Treaty on the Functioning of the European Union, prohibiting abuses of a dominant market position.
Neither the company nor location of the company has been named yet but it has been identified as a manufacturer of cardiovascular medical devices.
Commission officials, armed with the authority to conduct such investigations, were accompanied by counterparts from the national competition authority of the Member State where the inspection was carried out.
Surprise inspections such as this are one of the courses of action to cull suspected anti-competitive behaviour. Although it shouldn’t imply that the company under scrutiny is guilty as the process is designed to be impartial and fair – allowing the company in question to defend themselves if they have been involved in anticompetitive practices. The EU commission will also allow the suspected company to present their case in antitrust proceedings before any conclusion is met.
The industry will be following this case closely as the outcome could have a far-reaching impact on the medical device sector.
According to a GlobalData report, global market value for cardiovascular devices will grow at a compound annual growth rate (CAGR) of 6% to $62 billion by 2025.