QMed Settles Suit With Alere Medical

Eatontown, NJ-based QMed has said that it has reached an agreement with Alere Medical to settle the companies’ litigation over long-term contracts, according to the Associated Press.    

As a result of a mediation process, Reno, NV-based Alere has agreed to pay QMed a settlement in the “low seven-figure dollar amount.”

QMed originally brought an arbitration proceeding against privately held Alere in November 2005, alleging misrepresentation. Alere filed a counterclaim.

QMed is a noninvasive medical device manufacturer while Alere Medical is a specialty disease management company.