Biomet has agreed to pay a base rate of $200,000 each to hundreds of people who received artificial hips that were later replaced, which depending on individual circumstances, can be adjusted upward or downward.

The settlement resolves complaints related to its M2A Magnum hip replacement.

“Biomet is pleased to have reached this settlement and have the MDL (multi-state litigation) resolved,” the Warsaw, Indiana company said in a statement.

Though hundreds of people in several states were involved, the case was not a class-action lawsuit, and Biomet can award higher or lower individual amounts on a case-by-case basis.

Biomet said in documents filed with the Securities and Exchange Commission that the total payout could ultimately cost more than $50 million, which would compel the company to tap its $100 million insurance coverage.

People who had the metal-on-metal hip implanted and replaced must sue Biomet in federal court by April 15 to participate in the settlement. Others who file claims after the deadline could potentially file their own lawsuits or negotiate another group settlement.

Phoenix Arizona Mass Tort Lawyer Steve Leshner is representing dozens of clients who have been injured as a result of defective metal-on-metal hip replacement systems, including the Biomet M2A Magnum system, as well as the DePuy ASR, DePuy Pinnacle, Wright Medical Technology, Zimmer Durom, Smith & Nephew, and Encore systems. If you or someone close to you has had a revision of a metal-on-metal hip replacement system, please call Stephen I. Leshner, P.C. for a free consultation.