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Medtronic and Boston Scientific Reach Agreement on Patent Cases

^{Published on 2009-01-27 15:42:27, Last Modified on 2009-01-27 15:43:10 - Market Wire}
 

MINNEAPOLIS--([ BUSINESS WIRE ])--Medtronic, Inc. (NYSE: MDT) and Boston Scientific, today announced settlements in two cases and an agreement to stand down in three other lawsuits. These agreements stop all current litigation between the two parties in the fields of interventional cardiology and endovascular repair. All the disputes were over intellectual property.

"Stopping this litigation allows us to focus our resources on the development of new products that will improve the quality of care for people with cardiovascular disease," said Scott Ward, president of the CardioVascular business and senior vice president at Medtronic.

The stand down agreements are time limited and are only with Boston Scientific. Medtronic will continue litigation in two of the cases against Abbott Laboratories. While the terms of the settlement remain confidential, Medtronic advised that the above described agreements will not have a material impact on its financial results for its third fiscal quarter. The cases are listed below.

A. Medtronic Vascular, Inc., et al. v. Boston Scientific Corp., et al., No. 2:06-cv-00078-TJW-CMC, pending in the U.S. District Court for the Eastern District of Texas;

B. Boston Scientific Corp., et al. v. Medtronic, Inc., et al., No. 6:08-cv-320, pending in the U.S. District Court for the Eastern District of Texas;

C. Medtronic Vascular, Inc., et al. v. Boston Scientific Corp., et al. and Abbott Laboratories, et al., No. 2:08-cv-00318-TJW, pending in the U.S. District Court for the Eastern District of Texas;

D. Medtronic Vascular, Inc., et al. v. Abbott Cardiovascular Systems, Inc., et al., No. C-06-01066 (PJH), pending in the U.S. District Court for the Northern District of California; and

E. Boston Scientific Corp., et al. v. Medtronic, Inc., et al., No. CV 08 3844 PJH, pending in the U.S. District Court for the Northern District of California.

About Medtronic

Medtronic, Inc. ([ www.medtronic.com ]), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health and extending life for millions of people around the world.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's Annual Report on Form 10-K for the year ended April 25, 2008. Actual results may differ materially from anticipated results.