NuVasive Settles Patent Litigation With Medtronic
NuVasive announced that the company has agreed to settle its ongoing patent litigation with Medtronic and some of its subsidiaries.
NuVasive and Medtronic will enter into a definitive settlement agreement within 15 days. Then, NuVasive will make a one-time payment of $45MM to Medtronic. As part of the settlement and in exchange for the one-time payment, the companies agreed to certain licenses and other rights, including a standstill of patent litigation and a dispute resolution process to address allegations of patent infringement moving forward.
Source: NuVasive, Inc.
NuVasive recently acquired Biotronic NeuroNetwork for $98MM, and launched several new products.