Medtronic said Friday it will pay about $1.35 billion to settle a patent dispute with Gary K. Michelson, a Los Angeles surgeon who previously won $510 million in a suit against the medical-device company. The latest compensation falls short of the $1.7 billion in damages that Michelson had originally sought when he claimed Medtronic breached a patent agreement he made with spinal implant maker Sofamor Danek a decade before it was acquired by Medtronic.
April 25, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Medtronic Inc. said Friday in Minneapolis it will pay about $1.35 billion to settle a patent dispute with a Los Angeles doctor who previously sued and won a lawsuit against the medical-device company.
Under the deal with surgeon Gary K. Michelson and his company, Karlin Technology Inc., Medtronic is acquiring about $800 million worth of spinal-fusion technology and will pay an additional $550 million to settle the legal claims.
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