Those typically don't get repaired, they get removed. 6-8 weeks recovery time
Not completely true. I tore mine and they did repair it. The procedure depends on the tear. Mine was split in the middle and I walked on it for 4 more weeks. It was making a clicking noise and then began to swell more and more. My Dr told me that due to my walking on it for 4 weeks, the bone on bone friction wore the lower bone until it had a pin sized hole. If I had waited much longer it would have led to an eventual knee replacement. In my case, they stitched the two large pieces back together and cut some frayed pieces off of the sides.
If the tear is on the outer edge, they simply cut off that small piece. I can definately say that the scope/procedure causes significant pain for about a week. The swelling remains for about 3 and it does effect your mobility. It was about 5-6 weeks before I could bend my knee like before the surgery.