Healthcare Industry News: Vascular Solutions
News Release - August 31, 2006
Vascular Solutions Comments on Summary Judgment Decision in Diomed Intellectual Property LitigationMINNEAPOLIS, Aug. 31 (HSMN NewsFeed) -- Vascular Solutions, Inc. (Nasdaq: VASC ) today commented on the decision of the U.S. District Court entered yesterday concerning motions for summary judgment in its pending patent litigation with Diomed Holdings, Inc.
Howard Root, CEO of Vascular Solutions, commented: "The decision entered by the Court yesterday afternoon denies all parties', including Diomed's, motions for summary judgment concerning infringement. By way of background, a summary judgment motion is a request for the judge to rule, as a matter of law, that a party's position prevails. It is not a determination of factual disputes regarding whether infringement has occurred. It has always been Vascular Solutions' position that the sale of Vari-Lase products does not infringe Diomed's single licensed method patent because they do not include the step of placing the laser fiber tip in continuous apposition to the vein wall, as required by the patent. Vascular Solutions' position was not adjudicated by the court in this decision, but instead will be the subject of a trial that we expect will be held sometime during 2007."
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 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 Vari-LaseŽ endovenous laser product line for the treatment of varicose veins, the LangstonŽ dual lumen catheter for the measurement of aortic stenosis and the Twin-Pass(TM) dual access catheter for dual wire access in interventional procedures.
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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