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Corporate Compliance

KIC Ventures’ Dedication to Compliance

KIC Ventures LLC and its subsidiaries and affiliated companies (the "Company") is firmly committed to conducting its operations ethically and within the letter and the spirit of the law. That is why we have adopted core values that are specifically designed to be part of an effective ethics and compliance program to prevent and detect violations of law and misconduct. 

 

All Company employees, distributors, and affiliated parties are required to adhere to the highest ethical standards and to comply with applicable laws and regulations in all countries where the Company conducts business.
 

Review KIC Ventures Website: Terms of Use & Privacy Policy

Our Core Values

  • Legal Compliance: We pledge to conduct our business in full compliance with all laws, rules, and regulations, upholding our high ethical standards.

  • Safe Work Environment: We strive to maintain a workplace free from discrimination, harassment, retaliation, and illegal drug-use, ensuring it's safe and respectful for all.

  • Product Safety & Efficacy: We produce products that are safe, effective, and compliant with the highest regulatory standards globally.

  • Competitive Fairness: We compete for business vigorously, ethically, legally, and transparently, respecting all antitrust and competition laws.

  • Transparent Marketing & Sales: Our products and services are represented accurately, adhering to all relevant regulatory and legal requirements.

  • Accurate Record-Keeping: We emphasize the accurate and honest recording and reporting of all company information.

  • Prohibited Improper Payments: We have a zero-tolerance policy for improper payments to or from anyone, be it government officials, suppliers, or customers.

  • Fair Dealing: All interactions with customers, suppliers, competitors, and colleagues are conducted fairly and transparently.

  • Confidentiality: We safeguard all confidential and proprietary information, refraining from using it for personal gain.

  • No Corporate Political Contributions: While we won't contribute corporately to political parties or individuals, we encourage civic responsibility amongst our staff.

  • Capitalizing Corporate Opportunities: We ensure that opportunities that benefit the company are pursued for the company, without personal conflicts.

  • Addressing Conflicts of Interest: We address and resolve any potential or real conflicts of interest promptly and transparently.

  • Guarding Company Assets: All staff are committed to the protection and efficient use of company assets, steering clear of theft, wastage, or carelessness.

  • Ethical Referrals: Physician referrals are strictly based on patient needs, free from financial biases or incentives.

  • No Kickbacks: We prohibit kickbacks of any form to influence product use or purchase decisions.

  • Transparent Pricing: We guarantee clear and honest pricing, free from hidden incentives.

  • Clinical Trials Integrity: Our participation in trials prioritizes patient safety and unbiased results.

  • Honest Claims: Product claims are factual, backed by sound scientific evidence.

  • Adverse Events Reporting: We ensure timely, accurate reporting of product-related adverse events.

  • Focused Education & Training: Training provided to healthcare professionals emphasizes the safe, effective use of our products without hidden marketing motives.

  • Anti-corruption Stance: We vehemently stand against corruption in any manifestation.

  • Vendor & Supplier Oversight: Regular checks ensure our partners adhere to our ethical and compliance benchmarks.

 

Through these core values, we aim to set the gold standard in the medical device industry, championing both innovation and ethics.

Physician Payments/Sunshine Act

The Federal Open Payments program, often referred to as the Sunshine Act or "Open Payments," mandates that manufacturers of products under Medicare or Medicaid must annually disclose payments or other transfers of value given to U.S. physicians and teaching hospitals—known as “Covered Recipients”—to the Centers for Medicare and Medicaid Services (“CMS”).

 

  • Our Collaboration: Our work with physicians in innovating, applying, and educating on our product portfolio may lead to payments that fall under Open Payments' purview.

 

  • Potential Payments: Such payments might encompass consulting fees for product enhancement, fees for medical education delivery, costs covering meals, travel, lodging, research-related expenditures, procurement of intellectual property rights, and royalties tied to product development.

 

  • Commitment to Transparency: We stringently follow the tracking and reporting directives set by the Open Payments initiative. This data is available to the public on www.cms.gov/openpayments.

Reporting Violations

If you are an employee, contractor, customer, distributor, healthcare professional, or member of the public and believe that you have information about known or suspected wrongdoing in the Company or believe that we are acting out of alignment with our core values, please let us know right away so that we can investigate and resolve it.

 

If you feel comfortable doing so, please inform your business contact or manager. You may also reach out directly the Chief Financial Officer.

 

We have also established a whistleblower hotline through Lighthouse Services, Inc, a third-party, to report fraud, unlawful, unethical, and other types of improper behavior. This hotline is an additional communication tool for specific types of situations, and it is provided because we believe that it is a good business practice to do so.

 

This hotline is NOT a substitute for routine communications within our organization related to workplace duties, benefits issues, or other job-related issues. Regular business matters that do not require anonymity should be directed to the employee’s supervisor and should not be submitted using this service. 

 

If you would prefer to remain anonymous, please use one of the following avenues, which are available 24 hours a day, 7 days a week.

   

  • Toll-Free Telephone:   

    • English-speaking USA and Canada: 833-591-0592 

    • Spanish-speaking USA and Canada: 800-216-1288  

    • Spanish-speaking Mexico: 800-681-5340  

    • French-speaking Canada: 855-725-0002   

 

 

  • Fax: 215-689-3885 (you must include our company name with report)  

 

To foster an environment of transparency and trust:

 

  • We will assure the utmost confidentiality of your identity unless disclosure is essential on a “need to know” basis.

 

  • We promptly investigate all reported non-compliance, utilizing internal or external resources as necessary.

  • Collaboration with any investigation initiated by our company or external resources is mandatory for all employees.

 

  • We will enforce necessary corrective actions in case of non-compliance, which can extend to termination of employment or discontinuation of contracts with vendors, contractors, or distributors.

 

Reasons for corrective action include, but are not limited to:

  • Breach of relevant laws, company policies, or procedures.

  • Failure to report known or suspected wrongdoing.

  • Any retaliatory actions against individuals reporting potential violations in good faith.

  • Managerial oversight in preventing or identifying non-compliance.

 

We emphasize the importance of professional conduct and expect everyone associated with our Company to uphold these values.

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