Zimmer tallies legal costs for temporarily recalled Durom MoM hips at over $600M
Orthopedic giant Zimmer expects the total legal tab for its Durom metal-on-metal acetabular hip implants to exceed $600 million, with about 2/3 paid out already.
Orthopedic devices maker Zimmer Holdings (NYSE:ZMH) expects to pay nearly $618 million in total to handle legal complaints spurred by the temporarily 2008 recall of its Durom metal-on-metal acetabular hip components, according to the company's latest earnings release.
Zimmer in 2008 pulled the devices off of shelves for a period of about 1 month while it investigated "certain reports of an unusually high rate of revision," according to regulatory filings from the time.
The company ultimately attributed device failures to improper implantation techniques and restored the devices to the market, but not without garnering some unwanted legal attention.