Palomar, Syneron settle patent spat for $31M plus royalties | Legal News

September 16, 2011 by MassDevice staff

Syneron Medical settles the patent spat with Palomar Medical Technologies it inherited with a buyout of Candela Corp last year, agreeing to pay $31 million plus royalties to license patents covering PMTI's hair-removal technology; plus, Merge Healthcare slips insurance lawsuit over Amicas deal; Caliper shareholders sue to block $600M PerkinElmer buyout; and Saint-Gobain takes it to the Supremes.

Palomar
Syneron

Syneron Medical Ltd. (NSDQ:ELOS) agreed to pony up $31 million plus royalties for the rights to a pair of Palomar Medical Technologies (NSDQ:PMTI) patents for laser- and light-based hair removal technologies, ending a long-running legal battle.

Syneron inherited the imbroglio when it acquired Palomar's Bay State rival, Candela Corp., for $65 million in January 2010. The case dates back to a pair of patents Burlington, Mass.-based Palomar licensed from Mass. General Hospital back in 1995 for light-based hair removal.

Palomar had accused Candela (and then Syneron) of willfully copying its technology. Today Syneron and Palomar announced a deal that will see Yokneam, Israel-based Syneron dish out $31 million in up-front cash for the rights to the two patents in the case. Syneron will also pay out royalties on sales of "consumer home-use lamp-based hair removal products," according to a press release.

Sign up to get our free newsletters delivered right to your inbox

Comments