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Stryker to consider buying rival implant developer despite settlement

December 19th, 2014

U.S. hip implant manufacturer Stryker Corporation is reportedly considering buying rival company Smith & Nephew, which is based out of the United Kingdom. The interest comes despite Stryker agreeing to pay more than $1.4 billion to settle hip replacement lawsuits alleging that the company developed defective devices.

Stryker announced the metal-on-metal hip replacement lawsuit settlement after thousands of patients alleged that the Stryker Rejuvenate and ABG II hip implants were failing at higher rates than expected, often causing side effects that required revision surgery. The $1.4 billion is one of the highest settlements for a medical device in history.

Both Stryker Corp. and Smith & Nephew have faced hip replacement lawsuits alleging that their hip implants failed and caused severe complications. Metal hip replacement side effects include premature loosening of the hip joint, limited mobility, tissue damage, and toxic levels of metal in the blood stream.

 

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