LivaNova to settle majority of U.S. 3T Heater-Cooler cases

LivaNova (NSDQ:LIVN) said that it inked a deal to settle approximately 75% of litigations it faces in the U.S. related to its 3T Heater-Cooler device, which has been implicated in a number of unexpected severe patient infections, expecting to pay up to $225 million to settle the claims. In June 2016, the FDA warned patients and doctors about the risk of a type of bacterial infection posed by LivaNova’s 3T Heater-Cooler. Four months later, the U.S. Centers for Disease Control & Prevention warned of the risk of serious bacterial infection in open heart surgery patients using the 3T Heater-Cooler. A year later, a report emerged suggesting that a dozen children who underwent cardiac procedures at Children’s Hospital New Orleans earlier were infected with myobacterium previously linked to LivaNova’s 3T Heater-Cooler. Last October, the company updated customers on efforts to correct issues with its 3T Heater-Cooler related to patient infections, providing instructions to monitor hydrogen peroxide concentration and information on a design upgrade. The London-based company said today that it established a settlement framework looking to resolve a pending multi-district litigation in U.S. Federal Court as well as a related, pending class action and other certain cases in state courts across the country. “We believe entering into the settlement is in the best interest of the company, its shareholders and patients, because it will remove ongoing costs and unc...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured Legal News LivaNova Source Type: news