HemaCare Corp., a Woodland Hills company that provides blood products and services to medical facilities, said Monday it settled its lawsuit that accused the American Red Cross of trying to monopolize the blood supply market.
HemaCare's lawsuit against the Red Cross, filed in federal court in Los Angeles in 2000, alleged that the humanitarian organization was bundling its blood product offerings to customers, and charging higher prices for blood platelets, in exchange for getting a lower price for the most commonly used blood product, red blood cells.
As a result, HemaCare contended it could not compete, even though its own price for platelets was lower than that of the Red Cross.
Under terms of the settlement, the Red Cross "agreed not to bundle blood-related products and services in New England or the Carolinas" in violation of antitrust laws, HemaCare said.
"We are pleased that this issue has been resolved to everyone's satisfaction. We look forward to continuing our practice of providing a safe and available blood supply nationwide," Allan Ross, senior vice president and chief operating officer of American Red Cross Biomedical Services, said in a statement.
The Red Cross admitted no wrongdoing in the case.
The settlement did not involve any money, said HemaCare spokeswoman JoAnn Stover.
HemaCare's stock climbed 4 cents a share Monday and closed at 49 cents in over-the-counter trading.