Medacta will pay at least $12 million to settle allegations of patent infringement and tortious interference against a developer of hip and knee implants.
Three notes:
1. Two Medacta subsidiaries, Medacta USA and Medacta International, agreed to settle the dispute with MicroPort Orthopedics, a subsidiary of MicroPort Scientific Corp.
2. Medacta USA will pay MicroPort $7 million by five days after the signature of the agreement, $5 million over the next seven years as well as a "low single digit amount" for marketing activities over a period of four years, the company said in a July 13 news release.
3. The settlement also resolves MicroPort's claims against its former distributor, Advanced Surgical Devices.