Categorized | Legal News

Biomet Agrees to Pay $56M in MDL Settlement Agreement

On Monday Feb. 3, Biomet became the latest company to make a settlement in a case against it involving defective hip implants. In a multidistrict litigation held in Indiana, Biomet agreed to pay at least $56 million to the hundreds of plaintiffs which filed against the medical device manufacturer.

The case had been going on since October of 2012, and although Biomet still disputes the claims that its hip replacements harmed people, they agreed to fund an account to pay the eligible plaintiffs. A minimum of $50 million will be paid to the plaintiffs, while six million will go to the plaintiffs’ attorneys.

Each plaintiff which received a M2a-Magnum or Biomet M2a-38, which subsequently had to be removed, repaired or revised within 180 days after the initial implant, would receive at least $200,000, according to the settlement agreement. The exact amount each plaintiff receives will vary based on court approved criteria. The settlement will be applicable to all pending cases, and all future cases against the company, filed by April 15, 2014.

Plaintiffs in the case complained that the hip replacements manufactured and implanted led to injuries. Various complaints of pain and injuries were made across the country, leading to the multi-district litigation in Indiana, where Biomet is headquartered.

Biomet is not the first hip-replacement manufacturer to have to pay out big money for a settlement agreement. In November, Johnson & Johnson agreed to pay $2.5 billion to settle approximately 8,000 lawsuits involving a hip implant. Stryker Corp. settled four lawsuits in December, and will enter mediation in April to resolve more than 500 suits.

The point of medical devices is to help patients live an easier life; they aren’t meant to be harmful or detrimental. If you are feeling discomfort or pain and you think it may be due to the result of a faulty medical device, you should act immediately, you probably aren’t alone. The attorneys at Cohen, Placitella & Roth have won millions of dollars for their clients in class action suits, and have more than 40 years of legal experience. Contact our law offices today for a free consultation at 888-375-7600.

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