To Get Help Now
Click Here
 
Today's Date:

Medtronic Unit Says It Will Settle Some of the 11,000 Transvaginal Mesh Lawsuits Facing the Company

AddThis Social Bookmark Button

Medtronic Will Settle 11,000 Transvaginal Mesh Lawsuits

Medtronic Will Settle 11,000 Transvaginal Mesh Lawsuits


Medtronic’s Covidien unit says it will settle some of the more than 11,000 transvaginal mesh lawsuits that have been filed on behalf of patients who allege the device caused them severe pain and serious side effects.

Covidien made the announcement Tuesday in a court filing in West Virginia federal court that was viewed by Reuters. Covidien said it could not disclose the amount of the settlement nor how many cases the confidential agreement with one of the plaintiffs’ law firms would resolve.

Last year, Medtronic acquired Covidien for $42.9 billion in cash and stock. Covidien recorded a pre-tax charge of about $180 million for the third quarter of 2014 related to litigation over mesh products. A regulatory filing on Tuesday with the U.S. Securities and Exchange Commission (SEC) viewed by Reuters shows that as of June 1, Covidien mesh products were involved in approximately 11,300 filed and unfiled claims.

Mesh products were supplied to another medical device maker by two Covidien subsidiaries, and Covidien is indemnifying that company in some cases, according to a filing obtained by Reuters. Covidien also said it believe that company was responsible for indemnifying it for claims over the mesh products’ promotion and marketing. The filing did not name the other company, but C.R. Bard has disclosed in regulatory filings that two Covidien units supplied it with mesh products. Bard believes Covidien was responsible for defending or indemnifying it in about half of the more than 14,000 claims facing the firm.

About 10,000 transvaginal mesh lawsuits have been filed across the country in state and federal courts. The claims allege the devices were poorly designed and made of substandard materials that can cause bleeding, infection, nerve damage and other serious injuries. Endo’s American Medical Systems was the first mesh manufacturer to resolve mesh litigation against it in 2014. The company set aside $1.6 billion to settle approximately 40,000 filed and unfiled claims, according to Reuters.

breakinglawsuitnews.com disclaimer: This article: Medtronic Unit Says It Will Settle Some of the 11,000 Transvaginal Mesh Lawsuits Facing the Company was posted on Friday, June 26th, 2015 at 1:15 pm at breakinglawsuitnews.com and is filed under Medical Device Lawsuits.

« »

Comments are closed.