Medtronic, Inc. Pays $84 Million to Settle Edwards Lifesciences TAVI Patent Infringement
Published: Mar 06, 2013
Medical device giant Medtronic pays the $83.6 million it owed for a transcatheter aortic valve replacement patent infringement loss to rival Edwards Lifesciences. Medical device monolith Medtronic (NYSE:MDT) paid $83.6 million to settle a years-long patent infringement lawsuit with Edwards Lifesciences (NYSE:EW), according to regulatory filings. Edwards revealed earlier this month that Medtronic had made good on the nearly 6-year-old lawsuit over transcatheter aortic valve replacement patents. The $83.6 million payment satisfied an April 2010 jury award as well as accrued interest, according to Edwards Lifesciences.