Edwards Settles Patent Dispute with Medtronic

Edwards Lifesciences Corp. said it agreed to settle a patent dispute with Medtronic Inc. and Medtronic Vascular Inc. over grafts used to treat various aneurysms.

Irvine-based Edwards said that in exchange for a payment of $37.5 million to Edwards and Australia-based Endogad Research Party Ltd., Medtronic had been granted nonexclusive licenses to the patents involved in the litigation and related patents.