A California federal judge last week approved a $12.3 million deal to settle a number of insurance claims over injuries allegedly caused by Caldera Medical’s transvaginal mesh.
Caldera’s insurer, Federal Insurance Co., will distribute $10.6 million to over 2,700 class members, as well as a $670,020 payment for attorney’s fees and costs in the case.
The ruling came despite the efforts of 36 objectors who sought an independent audit last June, saying they wanted evidence as to whether or not the payment would be larger if the Agoura Hills, Calif.-based company liquidated.
The company won FDA 510(k) clearance for its next-gen Vertessa Lite polypropylene mesh for treating pelvic organ prolapse in June 2015.
Caldera claimed that the new version of the mesh was lighter, 31% stronger than other market-leading meshes and has a 32% increased suture pull out strength.