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Besieged Medtronic Settles Heart Patent Dispute

Law360 (January 23, 2006, 12:00 AM EST) -- Mired in patent lawsuits, medical device maker Medtronic Inc. has decided to pay $37.5 million to settle litigation with its latest accuser, a California biotechnology company that specializes in heart valves.

In exchange for the multimillion dollar cash payout, Edwards Lifesciences Corp. announced Monday that it had granted certain nonexclusive licenses to Medtronic for devices used to treat late-stage cardiovascular disease.

The settlement marks the end of an infringement battle that began in August 2003, though the number pales in comparison to the record-breaking $1.4 billion...
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