Biomet said it agreed to settle more than 1,000 lawsuits filed over its M2A Magnum hip implants and will likely exhaust the $50 million it set aside to cover the legal tab.
Hips
X-Bolt Orthopaedics lands nearly $3M in funding
X-Bolt Orthopaedics raised $2.5 million (€1.8m) to put its hip fracture repair device on the market.
Dublin-based X-Bolt develops and manufactures devices for hip fractures. The company’s marquee product is an expanding bolt placed where the hip fractures, designed to help decrease the need for repeat surgeries.
ArthroMeda nears $2M in latest round
ArthroMeda hauled in $1.6 million in an equity offering it hoped would raise $2 million, according to a regulatory filing.
Ayer, Mass.-based ArthroMeda develops devices used in total hip arthroplasties that are designed to help physicians properly orient hip implants. The company was hoping to bring in $2 million through the equity sale. ArthroMeda brought in 12 backers, according to a regulatory filing.
Study: Hip implant regulatory review ‘entirely inadequate’
A group of U.K. researchers is calling for a major shift in regulation of orthopedic hip implants, warning that a significant number of the devices get on the market without providing much evidence of their safety or efficacy.
Stryker hashes out 1st settlements in Rejuvenate hip implant cases
Wright Medical OrthoRecon sale to close early next month
Tennessee orthopedics company Wright Medical (NSDQ:WMGI) is preparing to put a ribbon on the sale of its OrthoRecon business, a deal in the works since June.
Indian media accuses state of failing metal hip patients | MassDevice.com On Call
MASSDEVICE ON CALL — India media accused its government of failing to act to protect patients potentially harmed by Johnson & Johnson’s (NYSE:JNJ) now-recalled metal-on-metal hips.
Did patients draw the short stick in $2.5B J&J metal hip settlement? | MassDevice.com On Call
MASSDEVICE ON CALL — When Johnson & Johnson (NYSE:JNJ) agreed to a $2.5 billion settlement to close some 8,000 cases over its metal-on-metal hip implants, about 1/3 of that money went to the lawyers and legal teams representing the cases.
Johnson & Johnson confirms $2.5B hip lawsuit settlement, consumers group wants more
FLASH: Johnson & Johnson to settle DePuy ASR lawsuits for $2.5B
The Wall Street Journal is reporting that Johnson & Johnson (NYSE:JNJ) agreed to pay at least $2.5 billion to settle thousands of U.S. product liability lawsuits filed over its recalled DePuy ASR metal-on-metal hip implant.
Report: Johnson & Johnson to settle DePuy ASR claims for $4B
Johnson & Johnson (NYSE:JNJ) is said to be close to settling the thousands of pending and future lawsuits involving its recalled DePuy ASR metal-on-metal hip implants, according to Bloomberg.