Vein treatment manufacturer Diomed has been working hard to rake in the cash with a series of patent infringement lawsuits naming just about every other vein treatment provider in the country. They received a nice chunk of change from AngioDynamics as a result of the lawsuits (although that company seems to be doing just fine despite the loss.)
They've now agreed to a settlement of more than three and a half million from Vascular Solutions Inc. The company had filed for bankruptcy as a result of this litigation. However, the courts required them to pay just over four million dollars to Diomed as a result of the violations. Due to complications in the way that agreements were reached, the payment has been pending. The settlement is now worked out and Diomed should see its money soon.
It'll be interesting to see what forward motion Diomed makes with vein treatment as a result of the influx of cash received from these patent infringement lawsuits!
Question of the Day: How many major leaders do you see standing out as manufacturers of vein treatment equipment?
