IOMED, Inc. Reports Favorable Outcome In Intellectual Property Litigation
Published: Oct 31, 2006
SALT LAKE CITY, Oct. 31 /PRNewswire-FirstCall/ -- IOMED, Inc. , announced today that following a two week jury trial in the United States District Court for the Northern District of Texas, a seven person jury issued a unanimous defense verdict in favor of IOMED and its former distributor Compex Technologies, Inc., a subsidiary of Encore Medical Corporation, on all claims brought against them by EEMSO, Inc.
"We are very pleased that the jury found all claims against us to be without merit. While the plaintiff may appeal the verdict, we believe that the jury's decision vindicates our Company and serves as testimony to our competitive integrity," said Robert J. Lollini, President and CEO. "Respect for the intellectual property rights of others as well as the protection of our own intellectual property interests are important to our Company and are an integral part of the overall manner in which we conduct business. It was essential that we aggressively defend against these meritless claims to preserve the integrity and value of our proprietary iontophoresis technology and products, including our Companion80 product, which was the subject matter of this litigation," concluded Mr. Lollini.
While more advanced computer controlled iontophoresis systems, such as IOMED's Phoresor System, remain the preferred products among medical professionals; a niche market has developed for integrated single-use, disposable iontophoretic drug delivery patches, with a self-contained power source. IOMED's proprietary Companion80 product is best in class among these integrated iontophoresis products, which allow clinicians to efficiently manage their clinic time and allow patients to resume their daily activities while receiving their iontophoresis treatment.
IOMED is a leader in developing, manufacturing and marketing active drug delivery systems used primarily to treat acute local inflammation in the physical and occupational therapy and sports medicine markets. The Company is pursuing opportunities to advance its position as a provider of quality, innovative non-invasive medical products that improve patient healthcare. IOMED seeks to accomplish this by expanding its product line, distributing new products, developing strategic partnerships, and through acquisitions. To find out more about IOMED, Inc. , visit our website at www.iomed.com.
The statements contained in this news release that are not purely historical are forward-looking statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and include IOMED's beliefs, expectations or intentions regarding its future operations and financial condition. All forward-looking statements included in this news release are made as of the date hereof and are based upon information available to IOMED as of such date. IOMED assumes no obligation to update any forward-looking statement. It is important to note that actual outcomes could differ materially from those in such forward-looking statements. Readers should refer to the risk factors and other disclosures set forth in IOMED's filings with the Securities Exchange Commission, including Forms 10-K, 10-Q and 8-K.IOMED, Inc.
CONTACT: Brian Mower, CFO of IOMED, Inc., +1-801-975-1191; or Betsy Truax,Investor Relations Consultant, +1-801-975-1191, ext. 411, firstname.lastname@example.org,for IOMED, Inc.
Web site: http://www.iomed.com/