Average Medtronic Settlement Is $33,000 Dollars

Somewhat coincidentally, I drove past a Medtronic facility the day this was announced.   

“Medtronic is pleased we were able to negotiate terms that were mutually agreeable to the parties,” Christopher Garland, a company spokesman, said in a telephone interview. The settlement covers about 8,100 cases, or “virtually all” U.S. claims, Garland said.

The settlement resolves cases in both federal and state courts.

$33,000 Average Payout

It will provide an average payout of more than $33,000 to patients who have defibrillators with wires that have broken or are considered likely to break. The amount will depend on the extent of the injuries and defects.

Source: Medtronic to Pay $268 Million, Settle Suits Over Defibrillator Wire Flaws - Bloomberg