(Removes reference to Accolade Modular-Neck Hip Stems products in fourth paragraph)

Nov 3 (Reuters) - Orthopedics company Stryker Corp said its settled a compensation lawsuit related to its hip implant, and said it did not expect the settlement to hurt its profit.

The company said it expected to pay out a majority of the settlement by the end of 2015. (http://1.usa.gov/1xUlNbs)

Stryker will provide a base payment of $300,000 to patients who received the implant and underwent revision surgery by Nov. 3, to remove and replace the devices, plaintiffs' counsel Wendy Fleishman from Lieff Cabraser Heimann & Bernstein LLP said in a statement.

In June 2012, Stryker recalled its Rejuvenate and ABG II Modular-Neck Hip Stems saying the implants could cause adverse reactions, including pain and swelling.

Stryker said it has recorded charges of up to $1.425 billion so far related to claims over the implants.

(Reporting by Vidya L Nathan in Bangalore; Editing by Rodney Joyce)