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A Swiss maker of hip and knee implants now faces about 1,000 lawsuits over a product recall and said insurance probably won’t cover all the related costs, Bloomberg News reported today.

The company, Sulzer Medica, has insurance coverage capped at $223 million, but analyst estimates indicate costs already have exceeded twice that amount since the number of suits jumped from 800, Bloomberg said.

Analysts predict Sulzer Medica will have to pay punitive damages along with the costs of 2,600 patients undergoing surgery to replace hip implants—plus 160 procedures for knee implants found to be faulty.

Max Link, the company’s chairman, said approximately 1,600 of the implants were sold in the US.  According to the Bloomberg report, the number of patients needing surgery to replace the knee implant will probably climb to “several hundred,” said Medica spokesman Henner Alms.

At least one lawsuit relating to the hip implant situation has been filed in California, among about 60 other suits filed as a class action.

Bloomberg said sportscaster Jim Lampley also sued the Swiss company and said he suffered “agonizing” pain when standing up.

Medica has lost more than two-thirds of its market value since mid-May. Bloomberg quoted Patrick Stutz, an analyst at Bank Sarasin in Zurich, as saying, “The risks are just too high and nobody is going to jump into this stock.”

Chairman Link said the company’s orthopedics division, based in Austin, TX, “is responsible for all consequences. We’re working day and night to hold the course of our boat.”