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A U.S.
District Court has granted final approval for a $1 billion
settlement in a class action lawsuit filed by thousands of
patients who received faulty hip and knee joint replacements
manufactured by Sulzer Medica.
Judge
Kathleen O'Malley granted Sulzer Medica final approval for
the settlement, judging the settlement to be fair, appropriate
and reasonable.
Patients
who do not opt out of the settlement by May 15, 2002 approve
the conditions of the settlement and agree to refrain from
pursuing individual claims against the company.
"We
are very pleased with the outcome of the Final Fairness Hearing,"
said Dr. Stephan Rietker, CEO of Sulzer Medica. "We are
confident that the opt out number will remain at a minimal
rate, although we are not in a position to comment on this
subject today. The final approval reinforces our promise to
quickly and fairly compensate the affected patients."
Patients
who had their implants replaced without complications will
receive about $200,000 each, with approximately $40,000 of
that going toward attorney fees. The payment will be higher
for patients suffering from complications.
In December
2000, the company recalled thousands of artificial joints
because of a manufacturing problem that had contaminated the
joints with an oily residue, preventing the joints from bonding
with the patients' bones.
Source:
Medical Week staff,
week of May 12, 2002
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