$240M Metal-On-Metal Hip Implant Settlement Announced

162017_132140396847214_292624_nOn November 2, 2016, Wright Medical Group N.V. (“Wright”) announced that on November 1, 2016,  its wholly owned subsidiary, Wright Medical Technology, Inc., entered into a Master Settlement Agreement (“MSA”) with Court-appointed attorneys representing plaintiffs in metal-on-metal hip implant multidistrict litigation. Wright also announced that it had entered into a settlement agreement with three of its insurance carriers on October 28, 2016.

The MSA

The MSA provides for a $240 million total settlement amount, of which approximately $180 million will be funded by Wright in cash and $60 million will be funded by its insurance carriers. The MSA settles 1,292 specifically identified CONSERVE, DYNASTY or LINEAGE revision claims which meet the eligibility requirements of the MSA and are either pending in the multi-district litigation or in the consolidated proceeding pending in state court in California (collectively, “litigation”), or are subject to tolling agreements approved in the proceedings.

Nonetheless, the MSA provides Wright with the right to terminate the MSA if at least 95% of the eligible claimants fail to agree to participate in the settlement. The MSA further provides that there will be no funding of any individual claimant settlement until the 95% opt-in requirement has been satisfied or waived.

Eligibility To Participate In The Settlement

To be eligible to participate in the settlement, claimants must have a pending or tolled case in the litigation, have undergone a revision surgery within eight years of the original implantation surgery, and their claims must not have been identified by Wright as having possible statute of limitations issues. Additionally, those claimants who have had bilateral revision surgeries will be counted as two claims but only to the extent both claims separately satisfy all eligibility criteria.

The president and CEO of Wright stated with respect to the settlement, “We are very pleased to have reached this settlement agreement, in particular the population of claims that the settlement covers as well as the required 95% opt-in rate for those claims … This settlement addresses approximately 85% of the known U.S. revision claims that do not have potential statute of limitations issues and removes a great deal of the uncertainty that has been associated with this litigation.”

Claims Not Included In The MSA

Wright has estimated that as of September 25, 2016, there were approximately 600 outstanding metal-on-metal hip revision claims that would not be included in the MSA settlement, including approximately 200 claims with an implant duration of more than eight years, approximately 300 claims subject to possible statute of limitations preclusion, approximately 30 claims pending in U.S. courts other than the litigation, approximately 50 claims pending in non-U.S. courts, and approximately 20 claims that would be eligible for inclusion in the settlement but for the participation limitations contained in the MSA.

Wright has estimated that as of September 25, 2016, there were approximately 700 outstanding metal-on-metal hip non-revision claims which are excluded from the MSA.

Source

If you or a family member may have a defective hip implant claim against Wright or another company, you should promptly consult with a local medical malpractice attorney in your state who may advise you with regard to your defective hip implant claim.

Click here to visit our website or call us toll free in the United States at 800-295-3959 to be connected with medical malpractice lawyers (hip implant lawyers) in your state who may assist you with your hip implant case.

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This entry was posted on Thursday, November 17th, 2016 at 5:21 am. Both comments and pings are currently closed.

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