logo
Share SHARE
FONT-SIZE Plus   Neg

CryoLife Agrees To Settle Patent Lawsuit With CardioFocus - Quick Facts

Medical devices company CryoLife Inc. (CRY) said Thursday it has entered into a settlement agreement with CardioFocus Inc.. The company said the agreement thereby brings to an end the outstanding patent dispute between its unit Cardiogenesis Corp. and CardioFocus pending in the U.S. District Court of Massachusetts.

As per the settlement terms, CryoLife has agreed to pay CardioFocus $4.5 million in cash within 30 days. Both parties have agreed to dismiss with prejudice all claims and counter claims associated with the lawsuit.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Anglo-Australian mining giant BHP Billiton plc reported Tuesday a profit in its first half, compared to last year's hefty loss on sharply lower one charges. Underlying EBITDA, a key earnings metric, climbed 65 percent with higher production and prices. The company further lifted its dividend by 150 percent. Shares of HSBC Holdings Plc declined around 4 percent in Hong Kong trading after the Asia-focused lender reported wider net loss in its fourth quarter amid weak net interest income. Further, the company maintained its dividend, and said its Board plans a further $1.0 billion share buy-back, which is expected to complete in the first half of 2017. U.S. food maker Kraft Heinz Co., which had offered $143 billion in cash and stock to buy Anglo-Dutch consumer goods company Unilever, Sunday said it has amicably agreed to withdraw its proposal for a combination of the two companies.
comments powered by Disqus
Follow RTT