, , , , , , , ,

Source: Hip implant payout tops $50 million | The Journal Gazette.

Hip implant payout tops $50 million – 800 part of Biomet settlement

Sherry Slater | The Journal Gazette

Last updated: February 7, 2014 12:51 p.m.

Biomet Inc. has agreed to pay a base rate of $200,000 each to patients who received a specific hip model and had to have it replaced, according to court documents.

Company officials estimated in a Securities and Exchange Commission document that the total payout could exceed $50 million.

The settlement was reached 16 months after about 1,000 lawsuits were combined in multidistrict litigation against the Warsaw-based orthopedic device-maker.

It was not a class-action suit because class actions are used only when every plaintiff is seeking the same amount in damages, attorney Tom Anapol said.

In this case, the $200,000 base settlement can be increased or decreased on a case-by-case basis, depending on circumstances.

See source above for full article.


Enhanced by Zemanta