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Edwards Lifesciences Corporation
Medtronic and Irvine heart valve maker settle patent dispute
Medtronic and Irvine heart valve maker settle patent dispute

Medtronic Inc. and Edwards Lifesciences Corp., an Irvine heart valve maker, on Tuesday announced a settlement to end a long-running patent dispute that includes a one-time payment by Medtronic of $750 million and annual royalties of between $40 million and $60 million to Edwards through 2022, the companies said.  The agreement ends a dispute that began in 2008 when Edwards Lifesciences accused Minneapolis-based Medtronic of infringing on its patent for a heart valve that can be implanted in a minimally invasive procedure, inserted through an artery rather than requiring open-heart surgery. Under the terms of the agreement, the two companies also agreed to avoid litigation...

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