BEDFORD, Mass., Feb. 19, 2010 /PRNewswire-FirstCall/ -- 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 it has entered into a settlement agreement with Ethicon Endo-Surgery, Inc. (EES), a Johnson & Johnson company. The settlement agreement resolves all outstanding litigation between EES and Hologic, including two lawsuits filed by EES on October 5, 2007 and August 6, 2009 against the Company and its wholly-owned subsidiary, Suros Surgical Systems, Inc., alleging patent infringement by the ATEC and EVIVA biopsy products, as well as a lawsuit filed by Hologic on April 30, 2009 against EES, alleging patent infringement by the MAMMOTOME MR biopsy product.
As a result of the settlement agreement entered into on February 17, 2010, all outstanding litigation between the parties has been dismissed, without acknowledgement of liability by either party. While details of the agreement are confidential, under the terms of the settlement agreement, EES has agreed to pay Hologic ongoing royalties for sales of its MAMMOTOME MR. In addition, Hologic has agreed to pay EES the amount of $12.5 million, plus ongoing royalties for sales of its ATEC and EVIVA hand pieces. The Company anticipates it will record a charge of up to $12.5 million related to this settlement in its results of operations for the quarter ending March 27, 2010.
"Based upon the mutual agreement by both parties, we feel the settlement reached is in the best interest of the Company and its shareholders," said Mark Casey, Senior Vice President and General Counsel. "We are pleased to end all outstanding legal matters between Hologic and EES and to move forward under the settlement agreement."
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, Suros, ATEC and EVIVA, 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 Relations