Stryker Orthopaedics Settlement Program Reaches Milestone - - 95% of Registered Eligible U.S. Patients Enrolled in Program
Kalamazoo, Michigan - June 12, 2015 - Howmedica Osteonics Corp. (referred to as "Stryker Orthopaedics"), a subsidiary of Stryker Corporation (SYK), has informed the courts in the New Jersey Multicounty and Federal Multidistrict litigations that 95% of registered eligible patients have enrolled in the Settlement Program under the Master Settlement Agreement announced in November 2014. As a result, Stryker Orthopaedics will move forward with the Settlement Program.
The Master Settlement Agreement was established to compensate eligible U.S. patients who had surgery to replace their Rejuvenate Modular-Neck hip stem and/or ABG II Modular-Neck hip stem, known as a revision surgery. Shortly, the Claims Processor will begin notifying claimants and their attorneys regarding compensation payments, the exact timing and amount of payments will depend on factors and circumstances specific to each claim. It is expected that payments will begin this July and the majority of payments will be made by the fall of 2015.
For more information about the Settlement Program, please visit: www.strykermodularhipsettlement.com.
Stryker is one of the world`s leading medical technology companies and together with our customers, we are driven to make healthcare better. The Company offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine, which help improve patient and hospital outcomes. Stryker is active in over 100 countries around the world. Please contact us for more information at www.stryker.com.
For Media inquiries, please contact:
Yin Becker, Stryker Corporation, 201-831-5000 or yin.becker@stryker.com
For Investor inquiries, please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or katherine.owen@stryker.com
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Source: Stryker Corporation via GlobeNewswire
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