MONTPELIER, VT. — The Vermont attorney general's office says Keene Medical Products, Inc. of Enfield, New Hampshire, will pay more than $460,000 to settle potential claims that it received improper payments from the Vermont Medicaid Program.

The attorney general's office said Tuesday an investigation found that Keene filed improper claims to Medicaid for probes measuring blood oxygen saturation and overbilled Medicaid for sterile water used in the treatment of Medicaid beneficiaries.

Under the agreement, the company must have an independent review of its claims for the past two years and up to three years after the agreement is executed. It must repay Medicaid for any overpayments identified by the reviews and set up a program to prevent or limit future false claims.

The company did not immediately return a phone call seeking comment.