Healthcare Industry News: Vascular Solutions
News Release - June 23, 2006
Vascular Solutions and Diomed Settle Trade Secret and Sheath Marking LitigationMINNEAPOLIS, June 23 (HSMN NewsFeed) -- Vascular Solutions, Inc. (Nasdaq: VASC ) and Diomed, Inc., a subsidiary of Diomed Holdings, Inc. (Amex: DIO ) 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.
About Vascular Solutions
Vascular Solutions, Inc. is a medical device company that focuses on developing unique solutions for unmet clinical opportunities within Interventional radiology and Interventional cardiology. New products introduced since the second half of 2003 include the Vari-Lase® endovenous laser product line for the treatment of varicose veins, the D-Stat Dry(TM) hemostatic bandage for the rapid control of topical bleeding, the Pronto(TM) extraction catheter for the mechanical extraction of soft thrombus, the Langston® dual lumen catheter for the measurement of aortic stenosis and the Twin-Pass(TM) dual access catheter for dual wire access in interventional cardiology procedures. The Company's other major products include the Duett(TM) sealing device to rapidly seal the puncture site following catheterization procedures and the D-Stat® Flowable hemostat for the local management of active bleeding.
The information in this press release contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements. Important factors that may cause such differences include those discussed in our Annual Report on Form 10-K for the year ended December 31, 2005 and other recent filings with the Securities and Exchange Commission. The risks and uncertainties include, without limitation, risks associated with the need for adoption of our new products, limited working capital, lack of profitability, exposure to intellectual property claims, dependence on key vendors, exposure to possible product liability claims, the development of new products by others, doing business in international markets, limited manufacturing experience, the availability of third party reimbursement, and actions by the FDA.
For further information, connect to http://www.vascularsolutions.com
Source: Vascular Solutions
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