ResMed settles dispute with APEX Medical
ResMed (ASX:RMD) has agreed to settle its global legal battle with Taiwanese medical device manufacturer APEX Medical.
The terms of the settlement are confidential, but will allow APEX to sell and import its Wizard positive airway pressure (PAP) masks and XT and iCH flow generators globally.
APEX will in turn dismiss all challenges to ResMed’s sleep apnoea device technology patents in the US, Europe, Germany, Japan and China.
ResMed first commenced its legal battle with APEX last year, filing a patent infringement complaint with the US International Trade Commission in March 2013.
Through its legal action, ResMed secured import bans against APEX in the US as well as in Germany. The settlement will reverse these bans and ResMed will drop all pending litigation.
“We welcome healthy, fair competition in the growing [respiratory therapy] market. This agreement with APEX is a good result that meets our goals and allows ResMed to continue to focus on improving lives for millions of people,” ResMed global general counsel David Pendarvis commented.
ResMed has separately announced the US launch of the first products from its Astral line of portable life support ventilators.
The Astral 100 and 150 ventilators have a battery life of eight hours and two optional eight-hour external batteries to allow chronically ill patients to be treated outside of the hospital.
ResMed (ASX:RMD) shares were trading 0.7% lower at $5.71 as of around 12.30 pm on Friday.
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