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Stryker Profits Fall 35% After Rejuvenate Hip Recall

Stryker Profits Fall 35% After Rejuvenate Hip Recall

July 23, 2013 — Second-quarter net earnings at Stryker Corp. have fallen 35% after the company took an unexpected hit of $170 million in costs related to device recalls, including the Stryker Rejuvenate and ABG II hip replacements. Earnings fell to $213 million from $325 million last year.

Executives added that the $170 million charge included “$19 million for estimated settlement expectations for previously disclosed regulatory issues.” These settlements may involve other recalled products from Stryker, including the ShapeMatch Cutting Guides (which are used with the Triathlon knee replacement) and the Neptune Surgical Waste Management System.

Stryker is also facing a growing number of Rejuvenate and ABG II lawsuits. Yet another lawsuit was filed on June 26 by a woman from Tennessee. She alleges that her defective Rejuvenate hip implant was implanted for about one year before it caused serious, debilitating injuries that required revision surgery.

The Rejuvenate and ABG II were recalled in 2012 after being linked to high rates of corrosion and fretting. The problem is the “modular-neck” design, which has a metal-on-metal component. In January, the U.S. Food and Drug Administration (FDA) issued this Safety Communications to warn that patients who are having problems with a metal hip implant should have a physical exam, imaging test, and blood test to check for elevated metal ions.

Complications of a defective metal hip implant can include:

  • Chronic pain
  • Metal poisoning (metallosis)
  • Decreased walking ability
  • Hip dislocation
  • Device loosening
  • Bone fractures
  • Tissue damage or necrosis
  • Bone loss (osteolysis)
  • Abnormal noises in the hip
  • Need for revision surgery
  • And more

Do I have a Stryker Hip Implant Lawsuit?

The Schmidt Firm, PLLC is currently accepting Stryker Rejuvenate and ABG II induced injury cases in all 50 states. If you or somebody you know has been injured by a defective Stryker hip replacement, you should contact our lawyers immediately for a free case consultation. Please use the form below to contact our Defective Medical Device Litigation Group or call toll free 24 hours a day at (866) 920-0753.

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