Cochlear is voluntarily recalling its Nucleus CI500 range of implants. It is Cochlear’s first ever recall. Approximately 25,000 people worldwide have received a Nucleus CI500 implant.
Cochlear says that the failure rate is less than 1%. The company will not speculate on what underlying fault caused the problem, and said the company would continue selling an older but similar implant as a replacement.
The news crashed Cochlear’s stock. I don’t know if Cochlear screwed up. I’m not sure if even Cochlear knows yet. If they did, I would not be surprised if they fessed up and paid anyone who was harmed. I think – and believe me, I could be proven wrong – that Cochlear is a good company that will figure out what happened and make things as right as they can. Maybe I have read too many “Cochlear miracle” stories. But I think this is a decent company that will be back.