Shares of Sotera Health Co. SHC soared 57% in premarket trading on Tuesday after the company said it will pay $408 million to settle more than 870 million legal cases in Illinois. Sotera owns Sterigenics, a medical sterilization company that is accused of running an industrial plant in Willowbrook, Ill., that emitted ethylene oxide pollution that, in turn, gave people cancer, according to media outlets. The companies have denied any wrongdoing.
SHC soared 57% in premarket trading on Tuesday after the company said it will pay $408 million to settle more than 870 million legal cases in Illinois. Sotera owns Sterigenics, a medical sterilization company that is accused of running an industrial plant in Willowbrook, Ill., that emitted ethylene oxide pollution that, in turn, gave people cancer, according to media outlets. The companies have denied any wrongdoing. Sterigenics will fund an escrow account with the settlement by May 1.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Health Health Latest News, Health Health Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sterigenics settles hundreds of ethylene oxide lawsuits for $408 million after jury hit company with $363 million verdict for Willowbrook cancer survivorThe company said in a statement that settling the remaining Illinois lawsuits was in the best interest of its owners. It attributed the decision to “years of biased media coverage in the greater Chicago area,” the cost of appealing a record jury verdict and the time and money needed to defend hundreds of other claims.
Source: ChicagoBreaking - 🏆 521. / 51 Read more »
Sterigenics agrees to pay $408M to end over 870 lawsuits tied to Willowbrook plantSterigenics, a medical tool sterilization company, has agreed to pay $408 million to end more than 870 lawsuits. This is not enough.
Source: fox32news - 🏆 547. / 51 Read more »
How health insurance may have made health care more expensiveWidespread medical debt is a uniquely American problem, with such debt totaling at least $195 billion in 2019. It was once thought that the problem was that Americans were largely uninsured, but even those with health coverage can run into problems. Over 90% of the U.S. population has some kind of medical insurance, but about 40% of adults say they have at least $250 in medical debt. You mean if someone else is paying, people use more and don't care the cost? If only this basic human nature could have been predicted somehow. This is stating the obvious.
Source: CNBC - 🏆 12. / 72 Read more »
California Senate’s new health chair to prioritize mental health and homelessnessState Sen. Susan Talamantes Eggman heads the Senate's health committee, where she will focus on expanding mental health services and moving homeless people into housing and treatment. How does she feel about the endless sweeps of the unhoused? Unless it includes a stronger ability to force commitment then it’s destined for failure. What democrats and Gavin have done to our state is criminal. Build institutions and put the mentally ill inside. That is humane, not leaving them on the streets to fend for themselves. It has to be mandatory!
Source: latimes - 🏆 11. / 82 Read more »
NI health: Stalemate catastrophic for health service, says former leaderJohn Compton says having no government for four of the last six years has led to a health care crisis.
Source: bbchealth - 🏆 143. / 63 Read more »