6th Sep 2006 07:03
Gyrus Group PLC06 September 2006 6 September 2006 Gyrus and Medtronic Settle Patent Lawsuit Gyrus Group PLC and Medtronic Xomed, Inc., a subsidiary of Medtronic, Inc,announce that they have today agreed to settlement terms to end the long-runningpatent infringement dispute brought against Gyrus ENT by Medtronic Xomed. Inthe litigation, which was filed approximately two years ago, Medtronic Xomedcontended that the Gyrus "Diego" micro-debrider system infringed certain patentrights held by Medtronic Xomed. Pursuant to the settlement, Medtronic Xomed andGyrus ENT are dismissing with prejudice their respective claims andcounterclaims. The settlement also includes mutual covenants not to sue eachother on various patents and patent applications with respect to each company'scurrent micro-debrider product lines. There are no damages or payments involvedand each party will be responsible for its own costs and attorney fees incurredto date. Enquiries: Gyrus Group PLC Tel: 01189 219750Brian Steer, Executive ChairmanSimon Shaw, Chief Financial Officer Financial DynamicsBen Atwell Tel: 0207 831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GYG.L