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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Nuvasive Inc | NASDAQ:NUVA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 39.75 | 36.36 | 42.00 | 0 | 01:00:00 |
From May 2019 to May 2024
By Tess Stynes
NuVasive Inc. (NUVA) agreed to pay $45 million to Medtronic PLC (MDT) in a preliminary settlement of a long-running patent dispute between the medical device makers.
In a regulatory filing on Thursday, NuVasive said the settlement covers issues arising from litigation that Medtronic filed against the company in 2008. As part of the settlement agreement, the companies agreed to grant each other certain global nonexclusive royalty-free licenses to related some product lines.
The accord between the companies also includes an agreement not to make patent infringement claims--generally for spinal implants, biologics and neuromonitoring--for seven years except through a specified resolution process.
A Medtronic spokesman wasn't immediately available to comment.
NuVasive said that as of March 31, its litigation liability reserve more than exceeded the settlement amount.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
June 30, 2016 17:04 ET (21:04 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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