Americans have come to rely on the U.S. Food and Drug Administration (FDA) and its expertise in declaring medical devices safe for patients’ and physicians’ use. But time and again, the FDA’s approval process falls short, putting dangerous products into everyday medical practice. For the victims of these devices, Lawstreet Capital offers defective medical device lawsuit loan options.

Consumers rely on safety of medical devices

Seeming advances in medicine have become fully embraced under the belief that they are safe. As our aging population remains physically active for a longer time, medical options to improve quality of life, such as joint replacements and minimally-invasive surgical methods, are immensely popular. Women are delaying pregnancy while becoming more prominent in the workplace. Several generations have laid their trust, their lifestyle, and their health, in medical devices approved by the FDA.

Once in use, however, it becomes apparent that some approved medical devices have inherent and serious flaws that make them unsafe for general use. Groups of victims, sometimes numbering in the hundreds or thousands, have filed defective medical device lawsuits across the country.

There are multi-district litigations pending against the manufacturers of widely-used devices such as:

• Metal replacement hips by manufacturers including DePuy Orthotics, Zimmer Holdings, Stryker Orthopaedics, and Biomet
• Complete and partial knee replacement made by Zimmer Holdings, DePuy Orthopaedics, Smith & Nephew, Stryker Orthopaedics, and Biomet
• Mirena IUD
• Transvaginal mesh by Johnson & Johnson’s Ethicon Division, Bard Medical, Boston Scientific, and other manufacturers
• Intuitive Surgical’s da Vinci robot
• Power morcellators made by several manufacturers, including Johnson & Johnson’s Ethicon

While each of these devices was approved by the FDA, a recent Wall Street Journal report highlights the financial incentives that many FDA advisory committee members have in approving certain devices. According to the report, up to 10% of the committee members receive consulting fees or other financial payments from the manufacturers of the same devices up for their review. Disturbingly, these corporate ties are largely unreported by the FDA.

Medical device settlement funding

Defective medical device lawsuits are well-suited for multi-district litigation, which provides an efficient way for a single judge to handle hundreds or thousands of similar cases at the same time. MDL leads to more consistent results across cases and encourages broad settlement that benefit many parties at once. But the process can still take years to reach resolution.

All too often, victims are pressured to accept an early, low settlement offer just to make ends meet. If you have been injured by a defective device, medical device settlement funding can lift the immediate burdens like medical expenses that keep piling up and household expenses so that you can focus on obtaining the full value of your claim.

Unlike traditional loans that must be repaid no matter what the outcome, lawsuit funding loans are an advance on your claim that you only need to pay back if you win your case. LawStreet Capital is a leader in the industry and, after a free case review to determine whether you are a good candidate, can transfer the advancement funds to your account within 24 hours.

Don’t let immediate stress hold you back in your fight for justice. Contact us today at 1-866-FUND-662.

Resources:

1. Medscape, FDA Often Fails to Disclose Advisers’ Corporate Ties: WSJ, http://www.medscape.com/viewarticle/836327
2. FDA, List of Device Recalls, http://www.fda.gov/MedicalDevices/Safety/ListofRecalls/