Cook(R) Vascular Incorporated Settles Suit with Spectranetics

Apr 11, 2001, 01:00 ET from Cook Vascular Incorporated

    LEECHBURG, Pa., April 11 /PRNewswire/ -- Cook(R) Vascular Incorporated
 (CVI) announced today that it has settled its litigation with Spectranetics
 Corporation. The lawsuit, which CVI filed against Spectranetics in October
 1999, accused Spectranetics of patent infringement, breach of contract and
 misappropriation of Cook trade secrets relating to the field of pacemaker lead
 extraction technology.
     CVI also sought the assignment of certain Spectranetics United States and
 foreign patent rights to Cook.
     "Although we are prohibited from disclosing the terms of the confidential
 settlement agreement," explained CVI president Louis Goode, "we are extremely
 pleased with the results of this litigation, which confirms our commitment to
 vigorously protecting Cook's leading-edge technology and superior reputation
 in the field of implanted heart lead removal."
     Founded in 1963 with international headquarters in Bloomington, Ind.,
 privately held COOK(R) ( http://www.cookgroup.com/ ) is a leading designer,
 manufacturer and global distributor of medical products, tissue engineered
 biomaterials and interventional devices for radiology, cardiology, radiation
 oncology, neurology, general surgery, gastroenterology, vascular access, wound
 care, urology, obstetrics and gynecology, critical care, endovascular and
 veterinary medical procedures. More than 40 companies in the United States,
 Europe, Canada, Australia and Asia design, produce, manufacture and distribute
 COOK(R) brand medical devices to physicians and other medical professionals
 around the world. The corporation also has business interests in commercial
 real estate and property development, transportation and entertainment.
 
 

SOURCE Cook Vascular Incorporated
    LEECHBURG, Pa., April 11 /PRNewswire/ -- Cook(R) Vascular Incorporated
 (CVI) announced today that it has settled its litigation with Spectranetics
 Corporation. The lawsuit, which CVI filed against Spectranetics in October
 1999, accused Spectranetics of patent infringement, breach of contract and
 misappropriation of Cook trade secrets relating to the field of pacemaker lead
 extraction technology.
     CVI also sought the assignment of certain Spectranetics United States and
 foreign patent rights to Cook.
     "Although we are prohibited from disclosing the terms of the confidential
 settlement agreement," explained CVI president Louis Goode, "we are extremely
 pleased with the results of this litigation, which confirms our commitment to
 vigorously protecting Cook's leading-edge technology and superior reputation
 in the field of implanted heart lead removal."
     Founded in 1963 with international headquarters in Bloomington, Ind.,
 privately held COOK(R) ( http://www.cookgroup.com/ ) is a leading designer,
 manufacturer and global distributor of medical products, tissue engineered
 biomaterials and interventional devices for radiology, cardiology, radiation
 oncology, neurology, general surgery, gastroenterology, vascular access, wound
 care, urology, obstetrics and gynecology, critical care, endovascular and
 veterinary medical procedures. More than 40 companies in the United States,
 Europe, Canada, Australia and Asia design, produce, manufacture and distribute
 COOK(R) brand medical devices to physicians and other medical professionals
 around the world. The corporation also has business interests in commercial
 real estate and property development, transportation and entertainment.
 
 SOURCE  Cook Vascular Incorporated