Skip to main content

US Supreme Court action will cost Medtronic, maybe $200 million

  • Author:
  • Updated:
    Original:

The U.S. Supreme Court declined to hear a lower court's ruling that Medtronic Inc. infringed on patents held by a rival company. Bloomberg News  reports that the ruling could potentially cost Medtronic more than $200 million.

The suit involves a clash between the Fridley-based medical device giant and Edwards Lifesciences Corp, based in Irvine, Cal. The Business Journal said the case involves transcatheter heart-valve technology developed by CoreValve, which California-based Edwards sued in 2008. Medtronic inherited the case when it bought CoreValve in 2009.

A jury later decided the company's patents infringed on those held by Edwards. The Star Tribune reports Monday's decision turned away the appeal and left the lower-court jury verdict in place.

Medtronic last year paid Edwards $84 million and recorded a $245 million charge to cover estimated damages.

The devices use catheters to thread replacement valves into the body, allowing physicians to replace heart valves without cracking open a patient's chest. One analyst predicted that the U.S. market for such products could reach $2.5 billion.

Next Up

Screen Shot 2022-10-01 at 10.18.12 AM

3 St. Paul fast food restaurants robbed in space of an hour

The thieves struck between 7:15 p.m. and 8 p.m.

Screen Shot 2022-10-01 at 9.06.40 AM

What to do with the Kmart site? Minneapolis wants your ideas

The project will connect Nicollet Avenue south of Lake street and north of the Midtown Greenway, reestablishing a street grid.

Screen Shot 2022-10-01 at 7.53.55 AM

Crowd evacuated at end of homecoming football game in Brooklyn Park

Police blamed 'unruly teens' in the stands and some who were trying to enter the stadium.

gas

State to help 44 Minnesota gas stations add E15 pumps

The yellow 88 button is coming to more gas stations in Minnesota.

Screen Shot 2022-09-30 at 4.54.42 PM

FBI, police investigating bank robbery at Edina's 50th and France

An ATM technician was robbed by four men at a U.S. Bank.

Ethan Glynn

Paralyzed Bloomington football player begins rehabilitation in Colorado

Ethan Glynn is at a world-renowned rehabilitation hospital.

Press Bar fire

Owner of St. Cloud bar gets 6 years for arson, ordered to repay $3M

A February 2020 fire at the Press Bar and Parlor was later determined to be an insurance job.

IMG_5455

Bloomington, Richfield districts tighten security ahead of weekend football

Enhanced safety measures will be in place this weekend.

Screen Shot 2022-09-30 at 2.23.15 PM

Walz sends MN first responders to help with hurricane recovery in Florida

Eight members of the Minnesota All Hazards Incident Management Team will travel to Florida.

Related