Medtronic, Inc. buys and licenses patents from Dr. Eckhard Alt for $75M
Medical device company allegedly infringed on five patents
Industry: Medical
Defendant: Medtronic, Inc.
Plaintiff: Dr. Eckhard Alt
Jurisdiction: Eastern District of Texas
Result: $75 million settlement
Source: “Medtronic Inc.: Patent-Infringement Lawsuits End With $75 Million Pact, ” Wall Street Journal, December 6, 2006.
Dr. Eckhard Alt asserted five patents in two different lawsuits against Medtronic, Inc. alleging patent infringement in certain Medtronic pacemakers and defibrillators. The first suit came in October 2004 when Dr. Alt alleged Medtronic was infringing on four of his patents. The second came in February 2006 when Dr. Alt accused the company of infringing on yet another.
Settlement came in late 2006 when Medtronic agreed to purchase and license patents from Dr. Alt for $75 million.
Dr. Alt is a professor of cardiology at Tulane University’s School of Medicine. Medtronic Inc. is medical device company based in Minneapolis, Minnesota. According to its website, Medtronic employs more than 37,000 people worldwide and reports 2006 revenue as $11.3 billion.
