Medstone International
This article was originally published in The Gray Sheet
Executive Summary
Parent Cytocare resolves two-year litigation with General Electric and its subsidiary, GE/CGR. The dispute concerned a former distribution agreement between the firms under which GE/CGR distributed Medstone's lithotripsy systems in Europe and certain Middle Eastern countries. Although terms of the agreement were not released, Cytocare says it will realize a one-time revenue recognition in its fourth quarter of "deferred revenue and costs" associated with the shipment of two lithotripters to Saudi Arabia in 1990....