AGA Medical Holdings will settle allegations that the company’s vascular devices infringed on patents held by Medtronic with a $35 million payment.
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AGA SETTLES PATENT LAWSUITS
NEW YORK – AGA Medical Holdings will settle allegations that the company’s vascular devices infringed on patents held by Medtronic with a $35 million payment.
Payments will be made over the next four years and Medtronic will now license the technology to the AGA. Medtronic filed lawsuit against AGA in January 2007, alleging that almost all of AGA's Amplatzer devices infringed on three patents. AGA Medical Holdings Inc. makes devices used to treat heart disease and repair structural problems in the heart. AGA Medical Holdings is getting a non-exclusive license, meaning Medtronic could license the technology to other companies. The license covers current products as well as potential future ones. The payments are scheduled to conclude in January 2014.
SOURCE: Lawday
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