Salient settles patent infringement lawsuit against Bovie Medical

Salient Surgical Technologies, Inc., a privately held medical technology company that develops and markets advanced energy devices for use in surgical procedures, announced today a settlement in the Company's patent infringement lawsuit against Bovie^® Medical (Amex: BVX).

Under the terms of the settlement, Bovie will immediately exit the monopolar and bipolar saline-enhanced RF device business (including Bovie's SEER™ and BOSS™) worldwide, until February 2015. In addition, Bovie acknowledges the validity and enforceability of Medtronic's patent - to which Salient has exclusive legal rights - in the U.S. and Europe. In exchange, Medtronic will make a one-time payment to Bovie of $750,000.

"We are pleased with the outcome and will continue to aggressively defend our intellectual property," said Joseph F. Army, President and CEO of Salient.

Source: Salient Surgical Technologies