Kinetic Concepts, Inc. (KCI) Sues Wake Forest University to Stop Paying Royalties
3/2/2011 7:29:43 AM
Wall Street Journal -- Kinetic Concepts Inc. (KCI) said it plans to stop paying royalties on key patents it licenses from Wake Forest University, following "protracted but unsuccessful negotiations" to reduce the rate after a legal defeat last year.
In October, the U.S. District Court for the Western District of Texas rendered invalid two key patents Kinetic Concepts has used to defend its wound-therapy franchise. The ruling effectively overturned an earlier jury verdict that found rival medical-device maker Smith & Nephew PLC (SNN, SN.LN) had infringed Kinetic Concepts patents.