The highest court in Massachusetts largely denied
Boston Scientific (NYSE:BSX) is suing one of its sales reps in Arizona, seeking to claw back about $200,000 it says it overpaid Michael McCormick last year.
The lawsuit, filed in the U.S. District Court for Minnesota, claims that McCormick tried to resign after the Natick, Mass.-based company approached him with a new employment contract that would have accounted for the snafu.
Volcano Corp. (NSDQ:VOLC) declared victory in the latest round of a legal battle with St Jude Medical Inc. (NYSE:STJ) subsidiary LightLab Imaging Inc.
The Superior Court of Massachusetts rejected LightLab’s claims for protection of five alleged trade secrets relating to laser technologies and denied all of the coronary imaging firm’s requests for permanent injunctions, according to Volcano.
St. Jude Medical Inc. (NYSE: STJ) filed a pair of lawsuits accusing two of its rivals of patent infringement and stealing trade secrets.
By Thomas Lee
St. Jude Medical Inc. (NYSE:STJ) said Tuesday that it completed its $90 million acquisition of LightLab Imaging Inc.
With the purchase, Little Canada, Minn.-based device maker can enter the $500 million coronary imaging market with the new imaging technology optical coherence tomography.
OCT uses near-infrared light to produce high-resolution, real-time images that are clearer and more quickly produced than competing ultrasound technology. LightLab said the resolution of its images are 10 times greater are made 20 times faster than those produced by intravascular ultrasound. Ultrasound technology uses sound instead of light to produce images.
By Mary Vanac
St. Jude Medical Inc. (NYSE:STJ) agreed to pay $90 million in cash for Westford, Mass.-based LightLab Imaging Inc.
LightLab Imaging Inc. won 510(k) clearance May 3 from the Food & Drug Administration for its C7-XR imaging system and companion C7 Dragonfly imaging catheter.
The devices create a 50-millimeter coronary scan in under three seconds without vessel occlusion, according to a press release, and provide resolution at 15 micrometers, roughly twice the size of a red blood cell.