Exactech is a major manufacturer of implants used in total knee replacement and total ankle replacement surgeries. Over 150,000 people have Exactech implants in their knee or ankle. Exactech recently initiated a recall of all these implants due to a defect that causes the implants to wear out and fail prematurely.
In the wake of the Exactech recall and the class action lawsuit, thousands of patients with Exactech implants may file product liability lawsuits seeking financial compensation for the pain and expense associated with the premature failure of their joint implant. These suits are being filed in the class action lawsuit in New York. But there are also state court claims that are being filed, mostly in Florida.
In December 2022, Exactech’s defense team sent a letter to MDL Judge Garaufis last week explaining the status of their effort to get formal coordination between the federal MDL and the state court MDL in Florida. Exactech is pushing hard for the discovery in the state and federal proceedings to be combined to avoid doubling their defense costs. The plaintiffs in the Florida state court MDL have opposed this request.
In this post, we will look at the potential settlement amounts for these Exactech recall lawsuits. We could have Exactch knee recall trials in 2023 and there may even be a global settlement this year. It is hard to imagine Exactech would not prefer a settlement to a trial for these claims.
Estimated Settlement Value of Exactech Recall Lawsuits
Our estimated settlement value for successful Exactech knee implant recall lawsuits is between $100,000-$225,000. We estimate that Exactech ankle implant lawsuits will have a slightly higher compensation value of around $125,000-$250,000. These estimates are based on the average compensation payouts in other tort cases involving serious knee and ankle injuries.
We increased these estimates in 2023. This graph shows our old estimates:
Why did we revise projected Exactech settlement amounts? We have come to believe these cases are stronger than we thought and we are increasingly hopeful that the money is there is to pay out a global settlement without a bankruptcy. This is also because we are seeing less Exactech lawsuits than our lawyers predicted. Why does this matter? Less lawsuits leaves more money for victims who do bring claims.
Who Qualifies for an Exactech Recall Lawsuit?
Anyone who had an Exactech knee replacement or ankle replacement implant system installed after 2004 could potentially have a claim against Exactech and be entitled to compensation. Exactech is initiating a recall of all its ankle and knee replacement systems made after 2004 after it was discovered that a manufacturing defect was causing premature failure of the implants.
Individuals who received an Exactech knee or ankle replacement system and suffered an early failure of the implant will have the strongest cases and be entitled to the most significant compensation. Patients who have Exactech implants that have not yet failed may still be entitled to compensation and should file claims to ensure they do not lose their right to sue in the future.
How Much Compensation Can You Get for an Exactech Recall Lawsuit?
Exactech recall plaintiffs will be entitled to compensation for: (a) pain & suffering caused by early failure of their implant, (b) medical expenses from revision surgery and other treatment, and (3) lost income resulting from the implant failure. The question is how much would these damages be in an average case and what type of settlement payout could Exactech plaintiffs reasonably expect.
The Exactech recall litigation is just getting started so we do not yet have any reported settlements or verdicts in an Exactech knee or ankle implant lawsuit. This makes it impossible to say for certain how much these lawsuits will eventually be worth at trial or in a settlement. We can come up with a reasonable estimate of the potential settlement value of these cases based on a comparative analysis of payouts in other tort cases involving similar injuries. The injuries in the Exactech recall lawsuits will be comparable to serious or mid-level knee or ankle injuries (e.g., torn ACL, broken ankle, etc.).
Knee Implant Case Values
Exactech knee implant recall cases will have a settlement value comparable to the value of other personal injury cases in which the plaintiff’s primary injury is a moderate or serious knee injury. Examples of moderate or serious knee injuries would be torn knee ligaments or any type of knee injury that requires major surgery to correct.
The average compensation award in serious knee injury cases is around $70,000 to $150,000. This includes both verdicts and publicly reported settlements. We think Exactech knee replacement recall lawsuits will have about the same settlement value.
Ankle Implant Case Values
Exactech ankle implant recall lawsuits should have a settlement value similar to other personal injury cases involving serious ankle injuries requiring surgery. Based on compensation payouts in ankle injury tort cases, we believe a reasonable estimate for the value of Exatech ankle implant cases is about $90,000 to $175,000.
The reason our estimated value for Exactech ankle implant cases is slightly higher than knee cases is that failure of an ankle replacement implant is more likely to leave the patient unable to walk without assistance. Patients with failed ankle implants will usually require crutches or some type of mobility aid.
Factors Impacting Settlement Value of Exactech Recall Lawsuits
There are a number of factors and circumstances that could drive the settlement value of individual Exactech implant recall lawsuits up or down. The single biggest factor that will drive the potential settlement value of Exactech recall lawsuits is how many years the plaintiff’s implant lasted before failure. If the implant fails after just 2 years, the case will be worth much more than if the implant fails after 7 years.
Another driving factor in the value of Exactech cases will be the age and work status of the plaintiffs. Younger plaintiffs who are still working will have higher value cases because their lost income damages will be higher and the implant failure will likely have a more significant life-impact. Older, less active plaintiffs who are already retired will have lower case values.
Hire an Exactech Recall Lawyer
Contact our product liability lawyers to see if you qualify for an Exactech implant recall lawsuit. If you have or had an Exactech knee or ankle replacement system surgically implanted in the last 10 years you might be entitled to file a lawsuit and get financial compensation. Call us at 800-553-8082 or connect with us online for a free consultation and initial case screening.