Stryker Says Hip Recall to Cost Up to $390M (Claims Journal)
Stryker Corp on Wednesday said a hip implant recall begun last June will cost $190 million to $390 million for patient testing and treatment, new surgeries, lawsuits and insurance payments.
The company said it increased the low end of its expectations for these costs and as a result also raised its related financial reserves. It will result in a fourth-quarter charge of 35 cents per share, or $174 million before taxes, Stryker said.
Stryker, which also makes power tools, surgical accessories and hospital beds, recalled its Rejuvenat...
