AGA To Pay $35M To End Medtronic Stent Patent Suit

By Erin Coe (March 29, 2010, 12:57 PM EDT) -- AGA Medical Holdings Inc. has agreed to pay $35 million to resolve a 2007 suit brought by rival medical device maker Medtronic Inc. alleging infringement of patents covering shape memory alloy stents.

AGA said Monday it had entered into an agreement with Medtronic to end litigation in the U.S. District Court for the Northern District of California, and planned to shell out $35 million over fours years, with the final payment due in January 2014.

In return, Medtronic will grant a nonexclusive license to AGA to use the three patents-in-suit, according to the defendant.

Medtronic's suit, filed in January 2007, claimed...

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