Healthcare Industry News: W.L. Gore
News Release - September 16, 2009
Medtronic and W.L. Gore & Associates Settle Patent DisputeMINNEAPOLIS--(HSMN NewsFeed)--Medtronic, Inc. (NYSE: MDT ) today announced that it has settled a patent lawsuit it initiated against W.L. Gore & Associates. Medtronic sued W.L. Gore in 2006 for patent infringement of selected patents in Medtronic’s Jervis and Wiktor patent families. Medtronic expects to recognize a one-time gain in the company’s second fiscal quarter ending Oct. 30, 2009, in connection with the settlement. Specific terms of the settlement agreement are confidential.
Patents in the Jervis patent family, the last of which is scheduled to expire in 2018, cover the use of stress to restrain certain self-expanding medical devices made of nitinol. Nitinol is a shape-memory metal alloy frequently used in medical device applications, including Medtronic’s own transcatheter coronary heart valve program. The last patent in the Wiktor family expired in 2007.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s Annual Report on Form 10-K for the year ended April 24, 2009. Actual results may differ materially from anticipated results.
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