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Vascular Solutions (VASC) Settles Terumo Corporation Patent Infringement Beef for $812k



10/24/2013 9:19:05 AM

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Vascular Solutions agrees to settle a patent infringement beef with Terumo over its R Band hemostasis device for $812,000 and a promise that Terumo won't sue over its Vasc Band device. Vascular Solutions (NSDQ:VASC) said it agreed to settle a patent infringement beef with Terumo Corp. (TYO:4543) over hemostasis devices for a 1-time payment of $812,000 and a promise from Terumo not to sue again over Vascular Solutions' Vasc Band device. Terumo sued Vascular Solutions in February, accusing it and Chinese contract manufacturer Lepu Medical Technology infringing the patents and trademark for its TR Band hemostasis device with Vascular Solutions' R Band product.

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