Healthcare Industry News: Bovie
News Release - March 9, 2011
Salient Surgical Technologies Settles Bovie Medical Patent Infringement LawsuitPORTSMOUTH, N.H.--(Healthcare Sales & Marketing Network)-- Salient Surgical Technologies, Inc., a privately held medical technology company that develops and markets advanced energy devices for use in surgical procedures, announced today a settlement in the Company’s patent infringement lawsuit against Bovie® Medical (Amex:BVX ).
Under the terms of the settlement, Bovie will immediately exit the monopolar and bipolar saline-enhanced RF device business (including Bovie’s SEER™ and BOSS™) worldwide, until February 2015. In addition, Bovie acknowledges the validity and enforceability of Medtronic’s patent – to which Salient has exclusive legal rights – in the U.S. and Europe. In exchange, Medtronic will make a one-time payment to Bovie of $750,000.
“We are pleased with the outcome and will continue to aggressively defend our intellectual property,” said Joseph F. Army, President and CEO of Salient.
About Salient Surgical Technologies
Salient Surgical Technologies, Inc. (www.salientsurgical.com) is a medical technology company that develops and markets advanced energy devices for use in surgical procedures. Salient's proprietary TRANSCOLLATION technology provides hemostatic sealing of soft tissue and bone, allowing surgeons to rapidly treat tissue at the surgical site to reduce blood loss and improve patient outcomes. Salient's products are currently used in orthopaedic reconstruction, spine surgery, trauma procedures and surgical oncology.
Source: Salient Surgical Technologies
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