Stryker has increased the low-end estimate for its hip implant recall, now saying it will cost between $190 million and $390 million for the testing, lawsuits and insurance payments, according to Claims Journal.
The company attributed the increase to financial reserves and a $174 million shift in its stock value, according to the report.
The recall for its Rejuvenate and ABG II modular-neck hip devices began in June of 2012 because of a risk for metal corrosion.
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The recall for its Rejuvenate and ABG II modular-neck hip devices began in June of 2012 because of a risk for metal corrosion.
More Articles on Devices:
AxoGen to Present Hand Graft Clinical Results at Hand Surgery Conference
GE Capital Invests $21.5M for Amedica Spine Device Development
38 Orthopedic & Spine Devices Receive FDA 510(k) Clearance in December