MAKO, Stanmore Implants Announce MAKO's Purchase of Stanmore Sculptor Robotic Guidance Arm
MAKO Surgical Corp. (Nasdaq: MAKO) and Stanmore Implants Worldwide Ltd. today announced that MAKO has agreed to settle all patent infringement actions and acquire certain assets of Stanmore related to its Sculptor Robotic Guidance Arm (RGA) business.
On March 19, 2013, MAKO filed complaints against Stanmore with the U.S. International Trade Commission and the U.S. District Courts of the Northern District of California and the District of Massachusetts collectively alleging infringement of MAKO intellectual property by the Sculptor RGA.
Under the confidential settlement and asset purchase agreements between the parties, in exchange for a cash payment to Stanmore, MAKO will withdraw all legal actions and receive Stanmore's robotic business assets and intellectual property, as well as Stanmore's agreement to withdraw from robotics.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.