Healthcare Industry News: Vascular Solutions
News Release - June 23, 2006
Diomed and Vascular Solutions Settle Trade Secret and Sheath Marking LitigationANDOVER, Mass.--(HSMN NewsFeed)--June 23, 2006--Diomed, Inc., a subsidiary of Diomed Holdings, Inc. (AMEX: DIO ) and Vascular Solutions, Inc. (Nasdaq: VASC ) today jointly announced that they have settled the trademark and trade secret litigation between the parties and all issues surrounding Diomed's marked sheath patents. The terms of the settlement are confidential.
The settlement does not affect the ongoing dispute between the parties regarding infringement of Diomed's United States Patent Number 6,398,777.
Diomed and Vascular Solutions declined further comment on the matter.
Diomed develops and commercializes minimal and micro-invasive medical procedures that use its proprietary laser technologies and disposable products. Diomed's EVLTŪ laser vein ablation procedure is used in varicose vein treatments. Diomed also provides photodynamic therapy (PDT) for use in cancer treatments, and dental and general surgical applications. The EVLTŪ procedure and the Company's related products were cleared by the United States FDA in January of 2002. Along with lasers and single-use procedure kits for its EVLTŪ laser vein treatment, the Company provides its customers with state of the art physician training and practice development support. Additional information is available on the Company's website: www.evlt.com.
EVLTŪ is a registered trademark of Diomed Inc., Andover, MA.
Safe Harbor statements under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with trends in the products markets, reliance on third party distributors in various countries outside the United States, reoccurring orders under OEM contracts, market acceptance risks, technical development risks and other risk factors. These statements relate to our future plans, objectives, expectations and intentions. These statements may be identified by the use of words such as "may," "will," "should," "potential," "expects," "anticipates," "intends," "plans," "believes" and similar expressions. These statements are based on our current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties. Our actual results could differ materially from those discussed in these statements. Our Annual Report on Form SEC 10-KSB/A (the "Annual Report") contains a discussion of certain of the risks and uncertainties that affect our business. We refer you to the "Risk Factors" on pages 23 through 38 of the Annual Report for a discussion of certain risks, including those relating to our business as a medical device company without a significant operating record and with operating losses, our risks relating to our commercialization of our current and future products and applications and risks relating to our common stock and its market value. Diomed disclaims any obligation or duty to update or correct any of its forward-looking statements.
Source: Diomed Holdings
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