Published on September 17, 2009 at 4:51 AM
Medtronic, Inc. (NYSE: MDT) today announced that it has settled a patent lawsuit it initiated against W.L. Gore & Associates. Medtronic sued W.L. Gore in 2006 for patent infringement of selected patents in Medtronic’s Jervis and Wiktor patent families. Medtronic expects to recognize a one-time gain in the company’s second fiscal quarter ending Oct. 30, 2009, in connection with the settlement. Specific terms of the settlement agreement are confidential.
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. The last patent in the Wiktor family expired in 2007.
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