NuVasive Settles Patent Litigation With Medtronic

By Julie A. Vetalice

NuVasive (NUVA) agreed to settle its ongoing patent litigation with Medtronic (MDT) and certain MDT subsidiaries.

NUVA and MDT will enter into a definitive settlement agreement within 15 days. Subsequently, NUVA will make a one-time payment of US $45MM to MDT. As part of the settlement and in exchange for the one-time payment, the companies have 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.

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Tags: Patent