With Huge Payout To Surgeon, Medtronic Ends Costly Patent Dispute

Law360, New York (May 19, 2005, 12:00 AM EDT) -- The four-year legal dispute involving medical device maker Medtronic Inc. and inventor Dr. Gary Michelson ended quietly this week, when Medtronic said it had completed the $800 million purchase of the spine-related intellectual property owned by the Los Angeles spinal surgeon and his company.

The company will also pay Michelson $550 million to settle outstanding litigation.

In April, Medtronic agreed to pay about $1.35 billion to Michelson to end their patent dispute over spinal fusion technologies.

The agreement gives Medtronic ownership of Michelson's patents related to...
To view the full article, register now.