July 21, 2005 |
Guidant Corp. won a ruling that upholds a patent related to implantable pacemakers and defibrillators, a victory in its bid for royalties from Medtronic Inc., a rival medical device maker. U.S. District Judge Sue Robinson in Wilmington, Del., upheld the validity of the patent. Medtronic filed suit in August 2003 to have the patent invalidated.
September 12, 2000 |
Medical device company Cyberonics Inc. spurned an unsolicited $480-million bid from larger rival Medtronic Inc., saying it preferred to remain independent and pursue developments in its fast-growing businesses. Houston-based Cyberonics, which sells a patented electrical stimulation device to treat epilepsy, said its board had unanimously voted to pursue an independent course after analyzing the $26-a-share stock offer with financial advisor Morgan Stanley Dean Witter.
November 22, 2000 |
A federal jury found that products made by Medtronic Inc.'s AVE unit infringed two pioneering stent patents owned by Johnson & Johnson's Cordis unit. The jury reached its unanimous verdict after 6 1/2 hours of deliberation. U.S. District Judge Sue Robinson in Wilmington, Del., told members of the jury they were to return Dec. 18 to determine the damages to be awarded to Johnson & Johnson. At issue were the patents of Dr. Julio Palmaz and Dr.
April 14, 2006 |
Medical device maker Medtronic Inc. said Thursday that U.S. regulators had approved a system for diabetics that continually monitors blood-sugar levels and recommends insulin doses to control them. The device, approved by the Food and Drug Administration, relays blood-glucose readings every five minutes from a sensor inserted under the skin to a pager-size pump, the Minneapolis-based company said.
June 8, 2006 |
A judge overseeing scores of lawsuits accusing Medtronic Inc. of selling defective heart devices ordered Milberg Weiss Bershad & Schulman, the law firm representing some of the plaintiffs, removed from a leadership role in the case. U.S.
October 16, 2007 |
Medtronic Inc. warned doctors Monday that the wires connecting a patient's heart to the firm's implantable defibrillators break too often. The news knocked Medtronic shares down $6.33 or 11.2% to $50. Medtronic told doctors to stop using the Sprint Fidelis wires after linking five deaths to breaks in them. The company said the Fidelis wires failed slightly more often than the thicker wires they were meant to replace. The problem does not affect Medtronic pacemakers.
February 24, 2009 |
Medtronic Inc. announced two acquisitions Monday that would expand the company's heart valve business at a price of more than $1 billion. Medtronic, the world's largest medical device maker, said it would pay $700 million for Corevalve Inc. in Irvine and $325 million for Israeli firm Ventor Technologies Ltd. Both companies make replacement heart valves.
May 26, 2005 |
Medical device maker Medtronic Inc. said Wednesday that a California judge had barred the company from selling a redesigned product that is the subject of a patent lawsuit filed by Biomet Inc. Medtronic said it would appeal the injunction, which was issued Tuesday and takes effect Aug. 22.
September 29, 2004 |
A federal jury in Memphis on Tuesday ordered a Medtronic Inc. subsidiary to pay about $110 million in a dispute between the company and a Los Angeles doctor who invented some of its spinal fusion technologies. The jury found that Memphis-based Medtronic Sofamor Danek Inc. breached some parts of its agreements with Los Angeles orthopedic surgeon Gary Michelson and that some of the company's products infringe his patents. The company may have to pay additional damages on those products.
March 21, 1995 |
Medtronic Inc. has received approval for a heart-rhythm regulator that is simpler to implant than earlier versions and thus results in shorter hospital stays and savings for patients. With Monday's announcement that its Jewel line of defibrillators has been approved, Medtronic shares gained $2.375 to close at a 52-week high of $70 on the New York Stock Exchange. Medtronic said the Food and Drug Administration approved five models of the Jewel on Friday.