Covidien and interventional technology provider Medrad have inked a deal to settle their pending litigation.
Under the terms of the agreement, Covidien of Hamilton, Bermuda, will pay Medrad $17 million. In exchange, Medrad will agree not to assert any claim of patent infringement against any of Covidien's powered injectors, according to filings with the U.S. Securities and Exchange Commission.
In other Medrad news, the Indianola, PA-based company said it has reached a milestone with its Mark V ProVis angiography injection system. The company recently delivered its 10,000th unit.
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