Newly Public AGA Medical Reports 15% Sales Growth In Third Quarter
This article was originally published in The Gray Sheet
Executive Summary
AGA Medical, maker of Amplatzer structural heart defect repair devices and vascular disease treatments, reported third-quarter sales growth of 14.9% to $50.2 million on Nov. 3 - two weeks after going public in a $200 million initial public offering
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Medtronic v. AGA Medical
Heart defect repair device maker AGA Medical will pay Medtronic $35 million over four years to settle charges that AGA's Amplatzer occluder and vascular plug devices infringed Medtronic's Jervis patents, the firms announce March 29. Medtronic brought the suit in 2007. The last of the three patents, which relate to shape memory alloy stents, is scheduled to expire in 2018. The settlement amount is lower than an initial jury award last August of $57.8 million in damages to Medtronic, and the non-exclusive license granted to AGA does not require royalty payments on future sales (1"The Gray Sheet" Nov. 9, 2009)