BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Cardiac Science (DFIB) Announces Settlement of Patent Litigation With Philips


4/26/2007 12:55:47 PM

BOTHELL, Wash., April 26 /PRNewswire-FirstCall/ -- Cardiac Science Corporation announced today the settlement of its long-standing patent litigation with Philips.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050913/SFTU139LOGO )

Under the settlement agreement all claims by each side have been dismissed and each side has been granted rights to the respective defibrillation- technology patents of the other side that were a part of the suit. In addition, Cardiac Science has been granted a perpetual, royalty-free, worldwide license to certain other defibrillation patents of Philips not associated with the suit in exchange for a one-time payment of $1 million.

"We believe that settling this dispute and licensing the additional intellectual property will provide greater benefit than continuing to invest in the highly uncertain litigation process," said John R. Hinson, president and CEO of Cardiac Science.

About Cardiac Science Corporation

Cardiac Science is truly at the heart of saving lives. The Company develops, manufactures, and markets a family of advanced diagnostic and therapeutic cardiology devices and systems, including AEDs, electrocardiographs, stress test systems, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, patient monitor - defibrillators and cardiology data management systems. Cardiac Science also sells a variety of related products and consumables, and provides a comprehensive portfolio of training, maintenance and support services. The Company is the successor to various entities that have owned and operated cardiology-related businesses that sold products under the trusted brand names Burdick(R), Powerheart(R), and Quinton(R). Cardiac Science is headquartered in Bothell, WA, and also has operations in Lake Forest, California; Deerfield, Wisconsin; Shanghai, China and Manchester, United Kingdom.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "intend," anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward looking statements in this press release include those that imply the settlement of the litigation with Philips and related technology licensing arrangements may result in reduced costs or other benefits in the future. These statements, including their underlying assumptions and inferred benefits, are subject to risks and uncertainties and are not guarantees of future performance. Other risk factors that could cause or contribute to such varying results are described in our annual report for the year ended December 31, 2006, filed with the Securities and Exchange Commission. The statements in this press release speak as of the date of the release, and Cardiac Science Corporation undertakes no duty or obligation to update the information provided herein.

Cardiac Science Contact: Mike Matysik Chief Financial Officer 425-402-2009 Media Contact: EVC Group, Inc. Steve DiMattia 646-201-5445

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050913/SFTU139LOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk photodesk@prnewswire.comCardiac Science Corporation

CONTACT: Mike Matysik, Chief Financial Officer of Cardiac ScienceCorporation, +1-425-402-2009; or media, Steve DiMattia of EVC Group, Inc.,+1-646-201-5445


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->