Medtronic Lawyers, Pulaski & Middleman

Medtronic, Inc. and a Product Recall – How it Affects Business

Medtronic, Inc. is a company that has enjoyed a high degree of success within their market, and that success was apparently set to continue when it launched the Sprint Fidelis wire lead to be incorporated with their market-leading heart defibrillator. However, recent news regarding the quasi-recall of this product has harmed not only the reputation and revenue generated by the product itself, but also the company as a whole.

Below is a look at how and issue like this can affect a company, which should in no way dissuade you from contacting a heart defibrillator lawsuit attorney at Pulaski & Middleman today to schedule a free initial consultation.

What’s a “Quasi” Recall?

We term this issue a ‘quasi’ recall because it happened somewhat differently than other similar actions. Basically, this means that Medtronic announced that they were no longer going to sell the wire lead in question, but what the company did not do is ask that those who already had the product to return it, and the FDA did not announce the same. Many recalls work this way, but this one did not, for reasons stated below.

Why the Difference?

The difference exists because of one clear-cut reason – patients have this device implanted inside of their chests, so simply returning it is not an option. Taking it even a step further, most medical experts recommend that removing this device and replacing it represents even more risks than simply managing the potentially faulty device that’s already been implanted.

The Bottom Line

The bottom line for Medtronic is that experts estimate that the company will lose up to $250 million in sales during the next quarter alone. News of this prediction has already harmed Medtronic’s stock price, as it fell by 11 percent as soon as this projection was made public. No one can predict what will happen to the stock price or to company revenue going forward, but it’s all-too-common to see this sort of reaction by the market when a serious medical and legal problem is attached to any corporation.

Your Next Step

If you have suffered harm as a result of this device, you need to contact a defibrillator lawsuit lawyer at Pulaski & Middleman immediately to schedule a free initial consultation. News of the company’s stock price and revenue problems that may or may not become a reality are not reasons to hesitate to enforce your rights. Contact the firm today.