Nevro and Boston Scientific Announce the Settlement of Their Ongoing Intellectual Property Litigations
08/01/2022 - 07:00 AM
Parties Reach an Agreement that Concludes Outstanding Intellectual Property Disputes
REDWOOD CITY, Calif. , Aug. 1, 2022 /PRNewswire/ -- Nevro Corp. (NYSE: NVRO) and Boston Scientific Corp. (NYSE: BSX) announced today that they have reached a settlement in their ongoing intellectual property litigations that gives Boston Scientific the freedom to operate using the features and capabilities embodied in its current line of products for frequencies below 1,500 Hz, and gives Nevro the freedom to operate using the features and capabilities embodied in its current line of products.
Nevro will grant Boston Scientific a worldwide, non-exclusive, non-transferable license to practice paresthesia-free therapy at frequencies below 1,500 Hz and a covenant not to sue for any features embodied in any current Boston Scientific products for frequencies below 1,500 Hz. Boston Scientific also will grant Nevro a worldwide, non-exclusive, non-transferable license under Boston Scientific's asserted patent families and a covenant not to sue for any features embodied in any current Nevro products.
This settlement concludes all of the existing litigations between Nevro and Boston Scientific, and includes a net payment from Boston Scientific to Nevro of $85 million .
Internet Posting of Information
Nevro routinely posts information that may be important to investors in the "Investor Relations" section of its website at www.nevro.com . The company encourages investors and potential investors to consult the Nevro website regularly for important information about Nevro.
About Nevro
Headquartered in Redwood City, California , Nevro is a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. The company started with a simple mission to help more patients suffering from debilitating pain and developed its proprietary 10 kHz Therapy, an evidence-based, non-pharmacologic innovation that has impacted the lives of more than 80,000 patients globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes a Senza SCS system and support services for the treatment of chronic trunk and limb pain and painful diabetic neuropathy.
Senza®, Senza II®, and Senza Omnia™ are the only SCS systems that deliver Nevro's proprietary 10 kHz Therapy. Nevro's unique support services provide every patient with an HFX Coach™ throughout their pain relief journey and every physician with HFX Cloud™ insights for enhanced patient and practice management.
Senza, Senza II, Senza Omnia, HFX, HXF Coach, HFX Cloud, HFX Connect, Nevro and the Nevro logo are trademarks of Nevro Corp.
To learn more about Nevro, connect with us on LinkedIn , Twitter , Facebook and Instagram .
Investors and Media: Julie Dewey , IRC Nevro Corp. Chief Corp Communications and Investor Relations Officer 650-433-3247 | julie.dewey@nevro.com
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SOURCE Nevro Corp.
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#4959 Ranked by Stock Gains
NVRO Stock Data
Industry
Surgical and Medical Instrument Manufacturing
Sector
Manufacturing
Tags
Health Technology, Medical Specialties, Manufacturing, Surgical and Medical Instrument Manufacturing
Country
US
City
Redwood City
About NVRO
headquartered in redwood city, california, nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. nevro has developed and commercialized the senza spinal cord stimulation (scs) system, an evidence-based neuromodulation platform for the treatment of chronic pain. the senza system is the only scs system that delivers nevro's proprietary hf10 therapy. the nevro® senza® scs system received ce mark in 2010, tga approval in 2011, fda approval in 2015, and is commercially available in europe, australia, and the united states.