MINNEAPOLIS--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT - News), today announced the settlement of a lawsuit it initiated against AGA Medical Corp. in 2007 for infringement of Medtronic’s Jervis patent family.
Under the terms of the settlement, in consideration of AGA’s payments to settle the litigation, Medtronic and AGA will end the litigation and Medtronic will grant a non-exclusive license to AGA to use the Jervis patent family.
Patents in the Jervis patent family, the last of which is scheduled to expire in 2018, cover the use of stress to restrain certain self-expanding medical devices made of nitinol. Nitinol is a shape-memory metal alloy frequently used in medical device applications, including Medtronic’s own transcatheter coronary heart valve program.
Medtronic has widely licensed the Jervis patent family to medical device manufacturers in the United States and will continue to offer licenses to this important technology.
About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
Contact:
Medtronic, Inc. Joseph McGrath, 707-591-7367 Public Relations Jeff Warren, 763-505-2696 Investor Relations
