Medtronic Pays Edwards Lifesciences $83.6 Million in Patent Dispute

Medtronic has paid Edwards Lifesciences $83.6 million as part of a settlement for a multiyear patent spat. Information about the settlement was posted in a filing to the United States Securities and Exchange Commission.In April of 2010, a jury awarded Edwards Lifesciences $83.6 million plus accrued interest due to copyright infringement concerns over Medtronic's CoreValve system. CoreValve was purchased in 2009 by Medtronic for $700 million. Both CoreValve and Edwards Lifesciences filed lawsuits in 2007 alleging that the other engaged in patent infringement.In November of 2012, the United States Court of Appeals For the Federal Circuit upheld a previous ruling by Judge Gregory Sleet at the United States District Court of Delaware. This ruling upholds a jury decision stating that Edwards Lifesciences' patent is valid and was infringed upon by CoreValve and then Medtronic.In its SEC filing, Edwards Lifesciences stated, "The mandate restores jurisdiction to the U.S. District Court for the District of Delaware to assess additional damages for the period after the April 2010 jury award and to reconsider Edwards' request for a permanent injunction."If Edwards Lifesciences is successful, it may be possible for the company to block Medtronic's CoreValve heart implant from the United States market. If this happens, Edwards Lifesciences' Sapien health valve implant will be the only device on the market approved for transcanteher aortic valve implantation.Referenceswww.sec.gov/Archives/edgar/data/1099800/000110465913016814/a13-6515_18k.htmFor more on this lawsuit, go to:Edwards Lifesciences' Lawsuit Impacts Medtronic's Profits