Medtronic (NYSE:MDT) must fork over nearly $24 million to the physician inventor behind a group of patents covering a technique for treating spine defects.
Dr. Mark Barry sued Medtronic in February 2014 in the U.S. District Court for Eastern Texas, alleging infringement for 3 patents covering a “system and method for aligning vertebrae in the amelioration of aberrant spinal column deviation conditions.”
After a week-long trial in November of that year the jury sided with Barry, awarding $15.1 million for the infringement of 1 of the patents in the U.S., more than $2.6 million for infringement of the 2nd patent in the U.S., and $2.6 million for the infringement of the patent overseas.
In January a judge reduced the $20.3 million verdict by $2.6 million, ruling that Barry did not present sufficient evidence that the company infringed 1 of its patents overseas but upholding the U.S. infringement claims.
In a May 16 ruling Judge Ron Clark awarded $15.1 million for infringement of 1 patent, 20% enhanced damages of $3.0 million, $2.6 million for infringing the 2nd patent, plus 20% enhanced damages of $525,000, pre-judgment interest of $2.4 million, post-judgment interest at a 1.07% rate and court costs.
