Starting today, medical device giant Medtronic (NYSE:MDT) is banned from selling its CoreValve and CoreValve Evolut transcatheter aortic valve implantation systems in Germany, thanks to a court ruling in favor of rival device maker Edwards Lifesciences (NYSE:EW).
However, Edwards is making some concessions to leave room for physicians to purchase Medtronic devices "where the Edwards SAPIEN XT valve is not indicated, subject to Medtronic’s cooperation," according to a company statement.
"Edwards will not seek compensation for the valves used in these compassionate cases in Germany, which are estimated to be about 40 per month," the company said.
The 2 companies have been battling over TAVI technology for a long time, but last month a German court ruled that Medtronic’s CoreValve transcatheter aortic valve implant infringes a so-called Spenser patent owned by Edwards. CoreValve sales in Germany accounted for less than 0.5% of Medtronic’s total fiscal 2013 revenues, the company said at the time. That works out to roughly $83 million, not enough to materially affect fiscal 2014 results, Medtronic added.
Medtronic is in the process of appealing the German court’s ruling and contesting Edwards’ Spenser patent at the European Patent Office, Edwards noted.
