Medical device maker Stryker announced Monday that it has settled thousands of lawsuits over its Rejuvenate Moduler-Neck and ABG II Modular-Neck hip replacement devices. The company said it settled the cases for about $1 billion.
The deal will be one of the largest amounts paid in the last year by an implant manufacturer to resolve suits brought by patients who allege they were injured by a metal-on-metal (MoM) hip device. Stryker said that it allotted $1.45 billion to settle the claims but that it expected the expenses to rise. Johnson & Johnson’s (J&J) DePuy unit settled 8,000 lawsuits over its ASR hip implants last November for about $2.5 billion, according to The New York Times (The Times). More Stryker Pays $1 Billion to Settle Thousands of Lawsuits Over its Rejuvenate and ABG Hip Replacement Devices