ResMed (NYSE:RMD) and Fisher & Paykel Healthcare (NZE:FPH) said today in a joint announcement that they have reached an agreement to settle all outstanding patent infringement disputes across all global venues.
While the terms of the deal remain confidential, both San Diego-based ResMed and Auckland, New Zealand-based Fisher & Paykel said it involved no payments from either party.
The companies said that, moving forward, all infringement proceedings against named products will be dismissed with each party bearing its own attorney fees and costs. The settlement is effective immediately, and both companies have begun to request the withdrawal of pending cases.
“I am pleased we were able to resolve these disputes. This agreement supports the best interests of ResMed, and all of our stakeholders, including patients, providers, physicians, and shareholders. ResMed will continue to lead with innovative products, services and solutions for sleep apnea, COPD, and out-of-hospital healthcare software. We will defend our intellectual property wherever necessary to ensure that our mask, device and software customers receive the innovative solutions they deserve,” ResMed CEO Mick Farrell said in a press release.
“We are pleased to bring these disputes to a close and we appreciate the support of our customers and shareholders throughout the process. The intellectual property we have generated through our investment in R&D over the past 50 years has enabled us to positively impact the lives of many millions of patients. We have an ongoing commitment to improve patient care and outcomes through inspired and world-leading healthcare solutions and this resolution supports that commitment,” Fisher & Paykel Healthcare CEO Lewis Gradon said in a prepared statement.
As a result, infringement proceedings against ResMed’s AirSense flow generators, AirFit P10, Swift LT and Swift FX masks and ClimateLine heated tubes or against Fisher & Paykel’s Simplus, Eson or Eson 2 products will be dismissed, the companies said.