Healthcare Industry News: joint replacement
News Release - March 22, 2007
Biomet Announces Federal Circuit Ruling in Its Lawsuit against Medtronic Sofamor DanekWARSAW, Ind.--(HSMN NewsFeed)--Biomet, Inc. (NASDAQ:BMET ) reported today on a ruling issued this week by the United States Court of Appeals for the Federal Circuit in the ongoing patent infringement litigation between Cross Medical Products, Inc. (a Biomet subsidiary), Medtronic Sofamor Danek, Inc. and Medtronic Sofamor Danek USA, Inc.
The Federal Circuit vacated a summary judgment ruling previously issued in Medtronic's favor by the United States District Court for the Central District of California. The district court had ruled that Medtronic's spinal implant polyaxial screws marketed under the names MAS, M8, M10, Sextant, Vertex, Legacy 4.5 and Legacy 5.5 did not infringe claim 7 of Cross's U.S. Patent No. 5,474,555 (the "`555 patent"). In vacating that ruling, the Federal Circuit remanded the matter to the district court for reconsideration. The Federal Circuit also ruled that Medtronic's newly redesigned polyaxial screws do not infringe claims 5 or 7 of the '555 patent. This decision, however, does not impact Medtronic's prior versions of its polyaxial screws.
Biomet's President and Chief Executive Officer Jeffrey R. Binder stated, "Although we are disappointed with the Court's decision related to the redesigned polyaxial screws, we are very pleased that the Federal Circuit vacated the district court's prior ruling in favor of Medtronic on the original polyaxial screw designs and we intend to pursue this claim."
A trial on whether Medtronic is liable to Cross for infringement of the '555 patent, and damages owed to Cross on that patent and another spinal patent that the district court already ruled Medtronic has infringed, is expected to take place later this year.
Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy. Biomet's product portfolio encompasses reconstructive products, including orthopedic joint replacement devices, bone cements and accessories, and dental reconstructive implants; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, craniomaxillofacial implants and bone substitute materials; spinal products, including spinal stimulation devices, spinal hardware and orthobiologics; and other products, such as arthroscopy products and softgoods and bracing products. Headquartered in Warsaw, Indiana, Biomet and its subsidiaries currently distribute products in more than 100 countries.
This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally, and also may materially differ from actual future experience involving any one or more of such statements. Such risks and uncertainties include the outcome and effect of pending litigation on Biomet's business, operations and financial results and the other risk factors as set forth from time to time in Biomet's filings with the SEC. The inclusion of a forward-looking statement herein should not be regarded as a representation by Biomet that Biomet's objectives will be achieved. Biomet undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Biomet, Inc
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