Biomet Agrees to $200,000 Base Settlement Awards in M2a Magnum Hip Cases

SOUTH BEND, Ind. – Biomet Inc. has agreed to settle hundreds of lawsuits alleging defects in its M2a metal-on-metal hip implant devices, including cases filed on or before April 15, in an agreement that could exceed $100 million, according to preliminary estimates.

Biomet and counsel for plaintiffs in the federal multidistrict proceedings filed the agreement Feb. 3 in the U.S. District Court for the Northern District of Indiana, where MDL No. 2391 is pending before Judge Robert L. Miller Jr.

The company has agreed to place $50 million into escrow on or before Sept. 26 provided a sufficient number of …