Spectranics says it's a target of U.S. probe

NEW YORK (Reuters) - Spectranetics Corp (SPNC.O: Quote, Profile, Research, Stock Buzz) said it is the target of a U.S. federal investigation into sales and marketing practices involving certain products and payments to medical personnel who took part in clinical studies for the medical device maker.

Spectranetics said it had been served with a search warrant on Thursday morning by the Food and Drug Administration and U.S. Immigration and Customs Enforcement. The warrant was issued by U.S. District court in Colorado, where the company is based.

The government requested information and correspondence relating to products used in procedures to clear clogged arteries, such as catheter guidewires and balloon catheters, manufactured by certain third parties outside of the United States, the company said.

Federal authorities are also seeking information on two post-market studies completed during the period from 2002 to 2005 and payments made to personnel in connection with those studies, as well as on compensation packages for certain company employees.

Spectranetics said in a news release that it is cooperating fully with the investigation and expects its business operations to continue in the ordinary course.

The company's shares, where were halted on Thursday, will resume trading on Friday. Spectranetics shares were trading at $4.73 on Nasdaq when trading was halted.

(Reporting by Bill Berkrot; Editing by Braden Reddall)