MINNEAPOLIS - Medtronic Inc. ended a long-running patent fight on Friday by agreeing to pay $1.35 billion to a Los Angeles doctor who invented much of its spinal-treatment technology.
The settlement with Dr. Gary K. Michelson and his company, Karlin Technology Inc., calls for Medtronic to pay $800 million to buy spinal-fusion technology and $550 million to settle the legal claims.
"I am very happy," Michelson said of the settlement. "I am looking forward to working with Medtronic to see how many of the devices we can develop to help patients."
Michelson had sought $1.7 billion in the dispute with Medtronic, and a jury awarded him about $510 million in punitive and compensatory damages last fall, saying Medtronic broke agreements that cover an implant used to treat damaged or diseased spinal discs. He had claimed that Medtronic breached patent agreements he made with spinal implant maker Sofamor Danek a decade ago before it was acquired by Medtronic in 1999.
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Doug North Central said:
CA Is Burning said:
CA Is Burning said:
Should politicians who intentionally lie and mislead their flocks be waterboarded?
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