Salient Surgical Technologies Settles Bovie Medical Patent Infringement Lawsuit
Salient Surgical Technologies, Inc., a privately held medical technology company that develops and markets advanced energy devices for use in surgical procedures, announced today a settlement in the Company's patent infringement lawsuit against Bovie® Medical (NYSE: BVX).
Under the terms of the settlement, Bovie will immediately exit the monopolar and bipolar saline-enhanced RF device business (including Bovie's SEER™ and BOSS™) worldwide, until February 2015. In addition, Bovie acknowledges the validity and enforceability of Medtronic's patent – to which Salient has exclusive legal rights – in the U.S. and Europe. In exchange, Medtronic will make a one-time payment to Bovie of $750,000.
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