NuVasive settles patent dispute with Medtronic

NuVasive, a medical device company focused on spinal surgery, has agreed to settle its patent dispute with Medtronic.

The companies agreed to settle previously disclosed patent infringement lawsuits and withdraw from proceedings at the US Patent and Trademark Office.

As part of the agreement, NuVasive will make a one-time payment of $45 million to Medtronic.

The companies have also agreed “certain licenses and other rights”, including a standstill of patent litigation and a dispute resolution process to address allegations of patent infringement in the future.

Further details were not revealed.

Gregory Lucier, chair of NuVasive, said: “We are very pleased to have negotiated a mutually agreeable settlement that removes the ongoing burden of this litigation and provides for a framework for resolution of potential patent disputes in the future”.

A definitive settlement agreement is expected to be agreed within 15 days.