Nevro And Boston Scientific Reach $85 Mln Settlement Of Ongoing Intellectual Property Litigations
(RTTNews) - Medical device makers Nevro Corp. (NVRO) and Boston Scientific Corp. (BSX) announced Monday that they have reached a settlement in all their ongoing intellectual property litigations, including a net payment from Boston Scientific to Nevro of $85 million.
This settlement gives Boston Scientific the freedom to operate using the features and capabilities embodied in its current line of products for frequencies below 1,500 Hz, while giving Nevro the freedom to operate using the features and capabilities embodied in its current line of products.
Nevro will grant Boston Scientific a worldwide, non-exclusive, non-transferable license to practice paresthesia-free therapy at frequencies below 1,500 Hz and a covenant not to sue for any features embodied in any current Boston Scientific products for frequencies below 1,500 Hz.
Boston Scientific also will grant Nevro a worldwide, non-exclusive, non-transferable license under Boston Scientific's asserted patent families and a covenant not to sue for any features embodied in any current Nevro products.
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