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Wright Medical Group (WMGI) Settles Hip Implant Suits for $240 Million



11/7/2016 7:28:30 AM

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Wright Medical Group will spend $240 million to settle 1292 lawsuit claims related to its Conserve, Dynasty, and Lineage metal-on-metal hips.

The settlement will be funded through $180 million in cash and $60 million in insurance recoveries, the Memphis, TN–based company said November 2.

The settlement agreement will be terminated if more than 5% of the claimants covered decide to opt out. The company also plans to vigorously defend itself against the roughly 600 claims not covered by the settlement.

Read at Qmed


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