Wright Medical reached an agreement to settle the remainder of its metal-on-metal hip implant cases for $89.8 million, Mass Device reports.
Here's what you should know:
1. Approximately $35 million will fund insurance proceeds.
2. The settlement payments will come in three phases.
Wright will pay $7.9 million to settle 49 claims that would've been included in a past master settlement agreement from 2016.
The company will pay $5.1 million in the second phase to settle up to 39 claims from the oldest claimants, by age.
The final phase will see the company paying $76.75 million to settle all remaining claims and up to 30 new claims.
3. The settlement could be less than what Wright estimated but not more.
4. The company has 629 claims pending and 710 ineligible claims. There are 47 claims still pending in court.