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Covidien Pays Medrad $17M, Ending Multiple Suits

Law360 (February 11, 2008, 12:00 AM EST) -- Covidien Ltd. has agreed to pay Medrad Inc. $17 million to resolve patent infringement litigation over injection systems used with magnetic resonance imaging systems.

Covidien revealed in a filing with the U.S. Securities and Exchange Commission on Monday that Medrad has agreed to drop its patent infringement claims while Covidien has dropped its claims that the asserted patents were invalid and not infringed. The parties filed stipulations to dismiss two lawsuits with prejudice on Monday.

Also as part of the deal reached on Jan. 18, another...
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