Stryker Broadspire Claims Program Announced, as Cost of Stryker Hip Recall Grows
Stryker Orthopaedics recently announced that it had established the Stryker Broadspire claims program to reimburse patients for treatment and other costs related to last year’s Stryker hip recall. In a filing with the U.S. Securities and Exchange Commission (SEC), Stryker also disclosed that the recall could end up costing the company as much $390 million.
Stryker Hip Recall and Stryker Broadspire Claims
Announced in July 2012, the Stryker hip recall involved the Stryker Rejuvenate and ABG modular hip stems. According to Stryker, the hip components were prone to fretting and corrosion that could result in local tissue damage as well as pain and swelling. Stryker has advised that any patient with one of these hip implants undergo blood tests for metal ions, as well as imaging scans to detect tissue damage, whether or not they are experiencing symptoms. According to the company, it has received reports of patients who had high metal ion levels and local tissue reactions, even though they only experienced mild symptoms.
According to Stryker, Broadspire Services Inc. has been retained to handle hip implant claims stemming from the Rejuvenate recall. According to the SEC filing, the company intends to reimburse implanted patients for reasonable and customary costs of testing and treatment services, including any necessary revision surgeries.
Patients affect by the Rejuvenate recall will soon by receiving a Stryker letter from a doctor with details regarding the Stryker Broadspire claims program. Before contacting Stryker, patients may want to consider talking with an attorney, and especially prior to signing or agreeing to anything. Anything disclosed to Broadspire could later be used as evidence in a patient’s Stryker hip implant lawsuit.
Stryker Hip Recall Costs
Stryker also disclosed in its SEC filing that its costs from the Stryker hip recall could range from $190 million to $390 million. As a result, the company raised its fourth-quarter reserves, and recorded a fourth-quarter charge of 35 cents per share, or $174 million before taxes. What the recall ultimately ends up costing Stryker will depend on a number of factors, including the number of lawsuits filed by individuals impacted by the recall, the SEC filing said.
Were You Affected by the Stryker Hip Recall? Contact an Attorney Today
Victims of the Stryker hip recall may be entitled to compensation for medical bills, lost wages, pain and suffering, and other damages. Bernstein Liebhard LLP is offering free legal consultations to individuals with Rejuvenate and ABG II hip stems. To learn more about Stryker Hip recall lawsuits, or if you have questions about Stryker Broadspire claims, please call 1-877-779-1414 for more information.