These agreements stop all current litigation between the two parties in the fields of interventional cardiology and endovascular repair. All the disputes involved intellectual property.
The stand-down agreements are time limited and involve only Medtronic and Boston Scientific. While the terms of the settlement remain confidential, Boston Scientific said the agreements will not have a material impact on its financial results.
Hank Kucheman, senior vice president and group president of cardiovascular at Boston Scientific, said: “We are pleased to have reached these agreements which will allow us to focus our efforts and resources on developing new products and therapies that improve patients’ lives.”