Press release
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Press Release Gothenburg , Sweden on December 8 , 2021 Getinge enters into a settlement agreement related to the MDL mesh litigation and makes a concluding provision of additional SEK 600 M Getinge's subsidiary Atrium Medical Corporation has entered into a settlement agreement with plaintiffs ' lead counsel related to the multidistrict litigation ( MDL ) linked to surgical mesh product liability in the US . An additional provision of SEK 600 M is made to account for the settlement in addition to litigation expenses incurred to date . " I am pleased that we can put this behind us and fully focus on our core business , and delivering on our strategy " , says Mattias Perjos , President & CEO Getinge . GETINGE * The settlement agreement was today executed to resolve matters pending in the District Court of New Hampshire , US . The settlement is subject to certain contingencies , including participation by a certain high level of plaintiffs in the MDL . There are currently about 3,200 plaintiffs in the MDL and the settlement aims to maximize the participation rate by the vast majority of claims filed up until November 30 , 2021. Getinge expects the settlement to become final and payment to be made during the first half of 2022 . The settlement is not an admission of liability or wrongdoing by the company . Getinge will continue to defend against any litigation that the final agreement does not resolve . Costs for such litigations are not expected to be material . The litigation against the insurers will also continue . The surgical mesh implants were manufactured by Getinge's subsidiary Atrium Medical Corporation , which was acquired by Getinge in 2011. Getinge made a provision of SEK 1.8 Bn in 2018 for expected costs associated with surgical mesh claims , based on information available at the time . The settlement amount will be funded through available funds . The provision will be reported as an item affecting comparability and it will impact the operating result for Q4 2021 . Phone Conference A conference call will be held on December 8 , 2021 , at 7 : 45-8 : 15 pm CET hosted by Mattias Perjos , President & CEO , and Lars Sandström , CFO . Please see dial in details below to join the conference : SE : +46 8 505 583 65 UK : +44 333 300 9271 US : +1 646 722 4902 Getinge AB ( publ ) Box 8861 405 31 Gothenburg Sweden Telephone : +46 ( 0 ) 10 335 00 00 Email : media@getinge.com www.getinge.com Page 1 of 2