Press release from PR Newswire
Hologic Announces Jury Verdict in Patent Infringement Suit
Tuesday, October 18, 2011
Motions Pending; Decision Will Not Impact Financial Results or Hologic's Focus in Delivering GYN Surgical Treatments and Procedures
BEDFORD, Mass., Oct. 18, 2011 /PRNewswire/ -- Hologic, Inc. (Hologic or the Company) (NASDAQ: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced the jury returned a verdict in the patent infringement suit between Hologic and Conceptus, Inc. (Conceptus).
On May 22, 2009, Conceptus filed suit in the United States District Court for the Northern District of California (the Court) alleging infringement of five Conceptus patents by the Adiana permanent contraception (Adiana) system. Allegations regarding all but two claims of the asserted patents were previously dismissed from the suit. A trial on the two remaining patent claims took place in October 2011 resulting in a jury verdict in favor of Conceptus.
As a part of this verdict, the jury awarded Conceptus the sum of $18.8 million as damages. Any such payment would have no impact to Hologic's results of operations or financial position since the payment, should it be paid, would be deducted from the contingent consideration otherwise due to former Adiana, Inc. shareholders (the former owners of the Adiana system).
"We are obviously disappointed in this verdict. However, there remain several issues to be decided by the Court which could impact the ultimate disposition of the case," said Mark Casey, Hologic's Senior Vice President and General Counsel. "Upon resolution of those issues, the Company will evaluate its options. In the meantime, the Company will continue to sell, market and promote the Adiana System."
Forward-Looking Statement Disclaimer:
This News Release may contain forward-looking information that involves risks and uncertainties, including statements about litigation activities and the anticipated impact of those activities on the Company's results of operations. These forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to the data or statements presented herein to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such data or statements are based. Certain factors that could adversely affect the Company's business and prospects are described in Hologic filings with the Securities and Exchange Commission.
About Hologic, Inc.:
Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women. Hologic's core business units are focused on breast health, diagnostics, GYN surgical and skeletal health. Hologic provides a comprehensive suite of technologies with products for mammography and breast biopsy, breast Magnetic Resonance Imaging, radiation treatment for early-stage breast cancer, cervical cancer screening, treatment for menorrhagia and uterine fibroids, permanent contraception, osteoporosis assessment, preterm birth risk assessment, mini C-arm for extremity imaging and molecular diagnostic products including HPV and reagents for a variety of DNA and RNA analysis applications.
Hologic and Adiana, and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
Deborah R. Gordon Vice President, Investor RelationsHologic, Inc.(781) 999-7716
SOURCE Hologic, Inc.