Exactech, a Florida device manufacturer facing over 2,000 lawsuits for defective hip and knee implants, filed for bankruptcy. The company will be sold to investor groups providing $85 million in financing for operations. The bankruptcy pauses patient lawsuits seeking damages and lawyers representing injured patients are dismayed. Exactech’s growth into a global entity was the subject of a previous investigation revealing delayed reporting of adverse events. The company blames packaging defects for premature implant failures. Patients have had to undergo additional surgeries due to implant failures. The bankruptcy filing has halted upcoming jury trials, leading to criticism of Exactech’s actions.
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Florida Medical Device Maker Exactech Declares Bankruptcy
