ST. PAUL, Minn., Jul 27, 2010 (BUSINESS WIRE) --
St. Jude Medical, Inc. (NYSE:STJ), a global medical device company,
announced today that it has filed a lawsuit against Volcano Corporation
for patent infringement. The suit, which involves five St. Jude Medical
patents and seeks injunctive relief and monetary damages, was filed in
the United States District Court for the District of Delaware.
The patent infringement lawsuit alleges that several products
distributed by Volcano, including its PrimeWire(TM) pressure guide wire
products, infringe on key patents used for the St. Jude Medical
PressureWire(R) technology platform, which was acquired from Radi Medical
Systems AB in December 2008. The PressureWire interventional technology
measures Fractional Flow Reserve (FFR), which is an index used to
evaluate the severity of blood flow blockages in the heart. FFR
measurements enable interventional cardiologists to better determine the
most effective treatment option for their patients during coronary
St. Jude Medical Systems AB, previously known as Radi Medical Systems
AB, is the owner of the entire right, title, and interest in and to each
of the five patents involved and is a plaintiff in the lawsuit. Two
other St. Jude Medical affiliates are also plaintiffs.
"St. Jude Medical has made significant investments in the interventional
cardiology space, including the coronary assessment and more recently
the coronary imaging markets," said Frank Callaghan, president of the
St. Jude Medical Cardiovascular Division. "From clinical research to
important product advancements, Radi Medical Systems and now St. Jude
Medical have contributed considerably to the success of this
marketplace. As a company that values the innovations we bring to the
marketplace, we intend to protect our intellectual property."
The former Radi Medical Systems AB and now St. Jude Medical have
invested millions of dollars in landmark clinical trials, such as the
FAME (Fractional flow reserve (FFR) vs. Angiography in Multivessel
Evaluation) study, that demonstrated superior clinical and
cost-effective outcomes of FFR-guided treatment.
The patent lawsuit initiated today follows St. Jude Medical's recent
acquisition of LightLab Imaging, Inc., which is already engaged in
litigation against Volcano and its wholly owned subsidiary Axsun
Technologies, Inc., a supplier to LightLab. LightLab is a pioneer and
leader in the development of Optical Coherence Tomography (OCT) used in
coronary imaging procedures. Earlier this year, a jury in the Superior
Court of Massachusetts, Suffolk County, reached a verdict against
Volcano and Axsun Technologies.
About St. Jude Medical
St. Jude Medical develops medical technology and services that focus on
putting more control into the hands of those who treat cardiac,
neurological and chronic pain patients worldwide. The company is
dedicated to advancing the practice of medicine by reducing risk
wherever possible and contributing to successful outcomes for every
patient. St. Jude Medical is headquartered in St. Paul, Minn. and has
four major focus areas that include: cardiac rhythm management, atrial
fibrillation, cardiovascular and neuromodulation. For more information,
please visit sjm.com.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. Such forward-looking statements include the
expectations, plans and prospects for the Company, including potential
clinical successes, anticipated regulatory approvals and future product
launches, and projected revenues, margins, earnings and market shares.
The statements made by the Company are based upon management's current
expectations and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those described in
the forward-looking statements. These risks and uncertainties include
market conditions and other factors beyond the Company's control and the
risk factors and other cautionary statements described in the Company's
filings with the SEC, including those described in the Risk Factors and
Cautionary Statements sections of the Company's Quarterly Report on Form
10-Q for the fiscal quarter ended April 3, 2010. The Company does not
intend to update these statements and undertakes no duty to any person
to provide any such update under any circumstance.
SOURCE: St. Jude Medical, Inc.
St. Jude Medical, Inc.
Tel 651 756 2191
Tel 651 756 4347