Stryker Hip Recall Could Cost Stryker Up to $390 Million
The Stryker hip recall could cost Stryker Orthopaedics $190 million to $390 million, including costs for medical testing and treatment for affected patients, revision surgery, lawsuits and insurance payments. According to Reuters, Stryker announced that it would increase the low end of its expectations for Stryker hip recall related cost in its fourth-quarter financial outlook. The Stryker hip recall will result in a fourth-quarter charge of 35 cents per share (or 174 million before taxes).
The total cost of the recall will depend on different variables, such as the number of patients who will require follow-up procedures and Stryker lawsuit costs. Recently, Stryker began working with Broadspire Services, a third-party claims administrator to help reimburse patients for medical expenses associated with the hip recall, including treatment, testing and revision surgeries.
Stryker Hip Recall Echoes 2010 DePuy ASR Hip Recall
Stryker issued the recall of its Rejuvenate and ABG II modular-neck stems in June 2012, noting that the metal components of the devices were prone to fretting and corrosion. This led to tissue damage, pain and swelling, and other adverse effects in patients, eventually resulting in hip replacement failure. Many patients may have to undergo revision surgery to remove the defective hip implant.
The company has advised all patients with a recalled Stryker hip implant to see a doctor, even if they are not currently exhibiting symptoms. Patients may undergo X-rays, MRIs and blood tests to evaluate potential Stryker injuries.
The Stryker hip recall echoes the monumental 2010 DePuy ASR hip recall, which was issued to due to high failure rates of the hip implants and has led to thousands of lawsuits as well as increased concerns about the dangers of metal-on-metal hip devices. Johnson & Johnson, the parent company of the manufacturer of the hips, also hired Broadspire to manage patient claims.
According to Dr. Mary O’Connor, orthopaedic surgeon at the Mayo Clinic in Jacksonville, Florida, “The issue of greatest concern is the potential for elevated metal ions in the bloodstream and the damage that can be caused to the muscles, tendons, soft tissue and bone.” Although she believes it is too early to say whether the Stryker hip recall will cause as many problems in patients as in the ASR hip recall, “it’s the same basic problem of metal ions poisoning the tissues.”
Filing a Stryker Hip Recall Lawsuit
Patients who suffered side effects such as metallosis, tissue damage, inflammation, pain and hip replacement failure because of a recalled Stryker hip implant are filing lawsuits against Stryker Orthopaedics seeking compensation for their injuries. You may also want to speak to a Stryker hip recall lawyer before you start a claims process with Broadspire, as anything you submit to the Stryker Broadspire program can be used as evidence in your Stryker lawsuit. Learn more by calling 1-877-779-1414.