A British court handed Paradigm BioDevices Inc. a win in its contract dispute with Centinel Spine LLC subsidiary Surgicraft Ltd., ruling that Surgicraft must pony up a kill fee for terminating a deal with Paradigm in 2008.
Rockland, Mass.-based Paradigm sued Surgicraft in 2008, after the Redditch, England-based firm abruptly canceled Paradigm’s exclusive deal to distribute Surgicraft’s Stalif TT spinal fusion device. Centinel, which is owned by New York-based orthopedics hedge fund Viscogliosi Brothers LLC, acquired Surgicraft in 2008.