Medical device maker Stryker had agreed to pay $1.43 billion to settle thousands of lawsuits claiming the company’s metal-on-metal hip implant was defective and caused injuries and poisoned the blood of patients who had them.
The agreement was brokered by a New Jersey Superior Court and settles both state and federal lawsuits waged against the company. Stryker said the settlement amount was the “low end of the range of probable loss to resolve these matters.”
The settlement covers lawsuits against two Stryker artificial hips, which the company recalled in 2012 after discovering the all-metal devices were corroding inside patients’ bodies, inflaming and damaging tissue in the joint space, prematurely failing, and corroding inside the body causing metal ions to leech into the bloodstream causing a type of blood poisoning known as metallosis. Many patients had to undergo revision surgery to remove and replace their hip implants.
The settlement comes one year after Johnson & Johnson paid $2.5 billion to settle 8,000 lawsuits from patients who had suffered injuries from the company’s metal-on-metal hip implant.
The settlement is one of the largest medical device settlements with an unlimited compensation fund, plaintiffs attorneys said. Stryker is expected to issue most of the payments to victims of its defective implants by the end of 2015.