Varicose vein treatment, especially with the new VNUS Closure Fast, is designed to be efficient and effective. You go in to the leg, seal the vein off with a laser and you're done. But the business of working in vein treatment hasn't been nearly so simple in the past year or so as a result of a series of patent infringement ">lawsuits between multiple parties.
It looks like the problems should be coming to a close. In a recent complicated situation, Diomed had sued (and won the suit against) AngioDynamics. AngioDynamics needed to pay out $7 million to Diomed as a result. In the meantime, Diomed file for bankruptcy and then decided to sell their business to AngioDynamics.
The transactions were complicated with all of the back-and-forth between the businesses but it appears that things are now resolved. A bankruptcy court has gone ahead and given their approval to allow the sale to take place. AngioDynamics will get the business, the bankruptcy court will get their payment in full and Diomed will be out of the business. Perhaps the business of vein treatment will go as smoothly as the treatments in the year to come.
Question of the Day: Are medical advances in vein treatment more or less likely to occur if the business and finance side of the industry balances out?
