Vascular Solutions Inc.

#1  Vascular Solutions Inc. announced that it has entered into a settlement agreement with Diomed Holdings Inc. for the purpose of resolving the patent infringement lawsuit between the companies. Pursuant to the Settlement Agreement, all claims and appeals by each side will be dismissed following a one-time payment of $3.586 million from Vascular Solutions to Diomed in full and final satisfaction of the monetary judgment related to the alleged infringement of U.S. Patent No. 6,398,777. Following the March 2007 jury verdict and subsequent monetary judgment award, Vascular Solutions recorded a $4.975 million litigation provision in the first quarter of 2007. The provision was subsequently increased to $5.245 million, primarily as the result of interest on the judgment.

 

#2  Vascular Solutions Inc. announced it won a $4.5 million lawsuit against Marine Polymer Technologies Inc., over statements Marine Polymer had made about one of the company's products. Vascular Solutions announced it won the suit after a jury in Massachusetts found that statements made by Marine Polymer regarding the safety of Vascular Solutions' D-Stat Dry hemostat product were false.