Wright Hip Lawsuit News: Wright Medical’s OrthoRecon Business is Sold for $290 Million
The manufacturer facing a rising number of Wright hip lawsuit claims has announced the sale of its OrthoRecon business, which is responsible for the Conserve Hip Replacements and Profemur Total Hip Replacement Systems, Businesswire.com reports.
According to an article published June 20th, MicroPort Medical B.V., a subsidiary of the MicroPort Scientific Corporation has agreed to buy the Wright Medical Group division for $290 million. The transaction is expected to occur by the end of the third quarter of 2013, or early in the fourth quarter, the article states. It is estimated that Wright Medical’s OrthoRecon business generated approximately $269 million in total global revenue in 2012.
The Conserve and Profemur implants will continue to be sold despite the recent sale of OrthoRecon, according to Businesswire.com.
More than 40 Wright Hip Lawsuits Pending in Federal Litigation
Court records indicate that at least 41 Wright hip lawsuits involving the Conserve line of artificial hips have been filed in a federal litigation underway in the U.S. District Court, Northern District of Georgia. (In re: Wright Medical Technology, Inc., Conserve Hip Implant Products Liability Litigation, MDL No. 2329) These lawsuits allege the metal-on-metal design of the Conserve artificial hip has the potential to generate high metal ion levels in patients, which may create the need for revision surgeries to remove and replace the device. Claims in this proceeding allege complications stemming from the Wright Conserve Total Hip Implant System, the Conserve Total A-Class Advanced Metal Hip Implant System, and the Conserve Resurfacing System.
According to a regulatory filing with the U.S. Securities and Exchange Commission issued by Wright Medical Group in April, additional Conserve hip replacement lawsuits were pending in California state court. Many of these lawsuits have already been consolidated pursuant to procedures of California State Judicial Counsel Coordinated Proceedings.
Wright Medical also disclosed in April that it is facing lawsuits filed over its line of Wright Profemur Hip Replacement devices. A Joint Notice of Settlement filed on March 20th with the U.S. District Court, Northern District of California indicated that a settlement has already been reached in at least one lawsuit involving the Profemur.
The Process of Filing a Wright Hip Lawsuit
Patients who allegedly experienced complications after receiving the Wright Conserve hip or Profemur hip replacement may be eligible to receive compensation for out-of-pocket medical expenses, lost wages and other damages incurred by their injuries. To learn more about filing a case against the manufacturer, contact an attorney at Bernstein Liebhard LLP by calling (877) 779-1414.