AngioDynamics wins $16.5 Million judgment
AngioDynamics, a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today announced a recent court action in its legal case against Biolitec, Inc.
On September 28, 2012, the U.S. District Court for the Northern District of New York entered a judgment awarding AngioDynamics $16.5 million in partial damages as a result of Biolitec’s breach of a binding agreement.
The Court’s ruling stems from legal action initiated by AngioDynamics in January 2008 seeking to enforce the defense and indemnification provisions of its April 1, 2002, Supply and Distribution Agreement with Biolitec. The Agreement obligated to defend and indemnify AngioDynamics against patent infringement claims by third parties arising out of the use of laser vein ablation products supplied by Biolitec. The Court’s order affirms should have defended and indemnified AngioDynamics against claims asserted by Diomed and VN US Medical Technologies, but did not. The Court’s partial judgment awards AngioDynamics the costs of its $7 million settlement with Diomed in April 2008, $6.8 million settlement with VN US Medical Technologies in June 2008 and legal fees associated with the two cases. The Court also denied Biolitec’s motions to certify an interlocutory appeal and to reopen discovery.
The September 28, 2012, court action follows the Court’s September 27, 2011, action granting key portions of AngioDynamics motion for summary judgment in the case.
In a separate legal proceeding, AngioDynamics is pursuing an action in the United States District Court for the District of Massachusetts against AG (BIB.DE ), Biomed Technology Holdings Ltd., and Wolfgang Neuberger to recover against AG and its CEO for tortiously interfering with Inc.’s contractual obligations, to pierce Inc.’s corporate veil, and to invalidate certain alleged fraudulent transfers between Inc. and related corporate entities. On September 13, 2012, the Massachusetts Court granted AngioDynamics’ request for a preliminary injunction prohibiting the defendants from alienating or transferring assets, other than in the ordinary course of business, for the duration of the litigation.
AngioDynamics Awarded GPO Contract for Vascular Access Products
ALBANY , NY – October 5, 2012 (GLOBE NEW SWIRE ) -- AngioDynamics ,a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, today announced it has been awarded a contract with HealthTrust Purchasing Group (HealthTrust) covering vascular access products, including its DuraMax chronic dialysis catheter, DuraFlow, DuraFlow 2 and EvenMore chronic hemodialysis catheters, and the Schon XL acute hemodialysis catheter.
The contract became effective on October 1, 2012. AngioDynamics has previously had HealthTrust agreements covering the Company’s peripheral vascular and fluid management products. “This is our first vascular access contract with HealthTrust and it will provide their 1,400 member hospitals with access to our quality dialysis products,” said AngioDynamics Senior Vice President and GM for U.S. Sales Alan Panzer.
About AngioDynamics
AngioDynamics, Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics’ diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.
About HealthTrust Purchasing Group
HealthTrust Purchasing Group, LP, (www.healthtrustpg.com) headquartered in Brentwood,TN, is a group purchasing organization that supports nearly 1,400 not-for-profit and for-profit acute care facilities, as well as 10,600 ambulatory surgery centers, physician practices and alternate care sites. With an annual purchasing volume by its members of more than $20 billion, HealthTrust is committed to obtaining the best price for clinically recommended products, ensuring their timely delivery, and continuously evaluating and improving its services to the patients, physicians and clinicians it serves. HealthTrust is closely integrated with the provider-proven capabilities of Parallon Business Solutions (www.parallon.net) which include revenue cycle and business process expertise, workforce management solutions, supply chain services and technology solutions.
Cardiovascular Credentialing International (CCI) announces new recognition of the Registered Phlebology Sonographer (RPhS) credential
CCI , a not-for-profit, independent agency credentialing cardiovascular professionals since 1968, announces new recognition of the RPhS credential with Medicare and Vascular Testing facility accreditation. The RPhS credential is now recognized by First Coast Service Options, Inc. (FCSO), the Medicare Administrative Contractor (MAC ) for J9 responsible for the provision of administrative services for physicians and health care providers located in Florida, Puerto Rico, and the US Virgin Islands in the LCD Title: Non- Invasive Evaluation of Extremity Veins. Most recently the RPhS credential has been recognized by Cahaba Government Services, the MAC for J10, responsible for physicians and health care providers located in Alabama, Georgia, and Tennessee in the LCD Medicine: Noninvasive Peripheral Arterial and Venous Studies. Stephen F. Daugherty, MD , FAC S, RVT , RPhS, Medical Director for VeinCare Centers of Tennessee, says, “The acceptance of the RPhS credential by the Part B Medicare contractor for Tennessee, Alabama, and Georgia is one more step in the recognition due to this certification. The Registered Phlebology Sonographer certification is the only certification specific to venous ultrasound, and it is intended for physicians and technologists who work in vein centers.”
The Intersocietal Accreditation Commission (IAC ) has opened up a public comment period that ends November 5, 2012 for the Vascular Testing Standards, which, if approved, will designate the RPhS credential as an appropriate credential for the technical director to hold for accreditation in peripheral venous testing. For more information about CCI and the RPhS visit www. cci-online.org or call 1-800-326-0268.
CircAid® becomes a medi Company
medi, headquartered in Bayreuth, Germany, a leading global player in the healthcare market, acquired San Diegobased CircAid®, expanding its compression therapy division to offer compression therapy garments to help patients throughout the world feel better every day.
With over 320 product brands and patents, 17 international group companies and direct export to over 100 countries, medi has been a leader in the management and treatment of conditions related to venous disease, lymphedema, musculoskeletal injury, rehabilitation, and lower extremity amputation.
CircAid® specializes in compression garments for the treatment of lymphedema, venous disease and other edema-related disorders. CircAid’s® focus has always been to ensure that patients are enabled to live and maintain independent lifestyles.
Dr. Michael Weihermueller, Managing Director of medi Global, is committed to the continued development of innovative products and therapies that fulfill a fundamental social responsibility toward improving the quality of life for the users of medi products.
“Our strategic goal is to increase our involvement in patient treatment by facilitating better patient results and overall management. The CircAid® product offering fits well within our existing infrastructure and capabilities, enabling patient engagement earlier in the treatment of venous and
lymphatic disease to encourage better outcomes.”
