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December 20, 2006
By: Ed Kensik
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Catheter manufacturer Rochester Medical of Stewartville, MN said it reached a $49 million settlement with medical devices company C.R. Bard, according to the Associated Press. Under the terms of the agreement, Rochester Medical will dismiss C.R. Bard of Murray Hill, NJ from a lawsuit it filed in March 2004 against C.R. Bard, Tyco International Ltd., Tyco Healthcare Group LP, Novation LLC, VHA Inc. and Premier Purchasing Partners LP. The lawsuit alleged that C.R. Bard, among others, conspired to exclude it from the market and violated antitrust laws. C.R. Bard has agreed to pay Rochester $49 million, and it plans to take a fourth-quarter pretax charge to reflect the settlement. Last month Rochester Medical reached a settlement with Premier Inc. and Premier Purchasing Partners LP that dismisses the companies from an anti-competition lawsuit. The company said the litigation continues against the other defendants in the case, which is scheduled to go to trial in May 2007. VHA and Novation said they believe the charges in Rochester Medical Corporations lawsuit are without merit, and they plan to vigorously defend against the claims. The other defendants named in the lawsuit were not immediately available to comment.
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