Date Announced: 22 Nov 2010
Alma to pay Lumenis $6.5 million for wide-ranging license.
YOKNEAM, Israel, Nov. 22, 2010 /PRNewswire/ -- Lumenis Ltd., the world's largest medical laser company and a global developer, manufacturer and seller of laser, light-based and radiofrequency devices for Aesthetic, Surgical and Ophthalmic applications, and Alma Lasers, Ltd., a global developer, manufacturer and provider of laser, light-based, radiofrequency and ultrasound devices for aesthetic and medical applications, announce that they have settled all patent claims and counterclaims in a litigation between Lumenis and its subsidiary, Lumenis Inc. and Alma and its subsidiary, Alma Lasers Inc. that were pending in the United States District Court in Chicago, Illinois.
Under the settlement agreement, Lumenis granted Alma a license to its complete patent portfolio for use by Alma with respect to all of Alma's products in the aesthetic field. Alma will pay Lumenis $6.5 million for the license.
The settlement does not include the lawsuits currently pending in the Israeli courts against Alma Ltd. and Alma's founders for misappropriation of trade secrets and unjust enrichment, which cases are continuing.
Web Site: www.lumenis.com