Sulzer Medica in mediation

Orthopaedics company Sulzer Medica has accepted the appointment of a mediator in an attempt to settle over 1,800 US suits stemming from faulty artificial hip and knee joints. Sulzer offered US$783mn but this was not accepted. Failing mediation, Sulzer Medica is likely to draw in its US parent Sulzer Orthopaedics, putting it at risk of having to apply for chapter 11 bankruptcy protection.