(AP) – 18 hours ago
BOTHELL, Wash. — SonoSite Inc., a maker of hand-carried ultrasound devices, said Monday a patent lawsuit initiated by General Electric Co. has been resolved with the industrial conglomerate paying $21 million for royalties in exchange for a license.
GE, based in Fairfield, Conn., sued SonoSite in 2008, seeking to invalidate its U.S. patent for the hand-held ultrasonic instruments. SonoSite said at the time there was no legal basis for the lawsuit.
Under the terms of the settlement agreement, GE will pay the Bothell, Wash.-based SonoSite $21 million and an ongoing royalty on U.S. sales and production of hand-carried ultrasound systems weighing less than 10 pounds in exchange for a perpetual nontransferable worldwide license, SonoSite said.
SonoSite will receive the royalties until the patent expires in 2016.
In addition, pending legal actions between SonoSite and GE, and cross-license to the other party's patents asserted in the lawsuits are dismissed, SonoSite said.
The settlement also includes a dispute resolution process to avoid help avoid litigation in the future.
In addition, the two companies agreed to form a foundation for funding clinical research, education and training of best practices for point-of-care ultrasound.