Medtronic Awarded $101M in Damages in Patent Suit
Medtronic, Inc., on Tuesday announced that it was recently awarded $101.2 million in damages in a patent lawsuit against San Diego-based NuVasive, Inc.
Fridley-based Medtronic and NuVasive sued one another over accusations of patent infringement, Bloomberg reported last month. According to a news release from NuVasive, the lawsuit was originally filed in 2008 and NuVasive later countersued.
Medtronic said Tuesday that a jury in U.S. District Court in San Diego found that several of NuVasive's devices infringe on three of its patents.
“We are pleased by the jury's verdict,” Doug King, senior vice president and president of Medtronic's Memphis, Tennessee-based spinal business, said in a statement. “The decision confirms our leadership in spinal implant technology, and we remain committed to vigorously defending our intellectual property.”
NuVasive Chairman and CEO Alex Lukianov said in a statement that the company will “aggressively challenge this verdict through the appellate process.” The company also said that the federal jury held Medtronic liable for $660,000 in damages for infringing on one of its patents.
One lawyer representing Medtronic told Bloomberg that the “the jury award only reflects damages through June 2010 and Medtronic will file a motion for an accounting from NuVasive to bring the damages up to date.” Read the full Bloomberg story here.
Medtronic is the world's largest medical device company and Minnesota's seventh-largest public company based on revenue, which totaled $15.93 billion for the fiscal year that ended in April.