January 28, 2009 - Boston Scientific Corp. and Medtronic Inc. today announced the settlement of two lawsuits and an agreement to stand down in three others.
These agreements stop all current litigation between the two parties in the fields of interventional cardiology and endovascular repair. All the disputes involved intellectual property.
“We are pleased to have reached these agreements which will allow us to focus our efforts and resources on developing new products and therapies that improve patients’ lives,” said Hank Kucheman, senior vice president and group president, cardiovascular for Boston Scientific.
The stand-down agreements are time limited and involve only Medtronic and Boston Scientific. While the terms of the settlement remain confidential, Boston Scientific said the agreements will not have a material impact on its financial results. The lawsuits are listed below.
For more information: www.bostonscientific.com