Orthofix gets settlement
This article was originally published in The Gray Sheet
Kinetics Concepts, Inc. will pay the Orthofix subsidiary Novamedix $75 mil. to settle a 1992 patent suit, the companies announced Sept. 30. Novamedix alleged that KCI's PlexiPulse line of foot pump products infringed upon patents related to its A-V Impulse system. The two foot pumps are used to prevent deep-vein thrombosis. After 13 years of back and forth deliberations, a trial was set for January. KCI will continue to market PlexiPulse, which had 2004 revenues of about $6.2 mil. Orthofix intends to put the proceeds towards debt reduction and acquisition opportunities...
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