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SOURCE Smith & Nephew
ANDOVER, Mass., Oct. 3, 2013 /PRNewswire/ -- Smith & Nephew (LSE: SN, NYSE: SNN), the global medical technology business, announces that the U.S. District Court in Oregon issued significant rulings in its favor in the patent infringement case (U.S. Patent 5,601,557) with Arthrex, Inc. (Naples, Fla.).
As part of the ruling the Court has ordered Arthrex to stop selling its Bio-SutureTak and PEEK SutureTak products in the U.S. as of yesterday, October 2, 2013.
The patent covers technology used in certain Smith & Nephew anchors (such as BIORAPTOR™ Suture Anchors, FOOTPRINT™ Ultra PK, and OSTEORAPTOR™) used primarily in surgical repair of the shoulder. In June 2011, a jury found that Arthrex's Bio-SutureTak, PEEK SutureTak, and certain Bio-PushLock and PEEK PushLock suture anchors infringe the patent owned by Dr. John O. Hayhurst (Portland, Ore.) and under exclusive license to Smith & Nephew.
"Smith & Nephew is dedicated to providing innovative healthcare products and services to our surgeon customers and their patients, and we will vigorously defend our intellectual property when warranted," commented Mike Frazzette, President, Advanced Surgical Devices Division, Smith & Nephew.
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma, Smith & Nephew has around 11,000 employees and a presence in more than 90 countries. Annual sales in 2012 were more than $4.1 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
For more information about Smith & Nephew, please visit: www.smith-nephew.com
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith & Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payors and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; strategic actions, including acquisitions and dispositions, our success in integrating acquired businesses, and disruption that may result from changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20-F, for a discussion of certain of these factors.
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