On April 8, 2005, a jury found that two products manufactured and sold by Medical Technologies Inc., dba Bledsoe Brace Systems, infringed two patents owned by Generation II. Generation II Orthotics and Generation II USA are subsidiaries of Ossur hf. in Iceland.
The jury awarded Generation II $3,386,145 in damages. The federal district court judge has additionally awarded Generation II attorney fees in the amount of $1,774,292, and prejudgment interest in the amount of $1,561,615, bringing the total amount in damages to $ 6,722,052. The court has also entered a permanent injunction against the further manufacture and sale of the Bledsoe Thruster and Thruster 2 knee braces.
The decision can be appealed by the defendant, and at this time it is not possible to know if any of the amount can ultimately be recovered from the litigation.
About Ossur hf.
Ossur hf. (Icelandic Stock Exchange: OSSR) is a trusted and global leader in the development, manufacturing, distribution, sales and marketing of high technology orthotic and prosthetic devices. With its head office in Reykjavik, Iceland, the company's U.S. sales and marketing headquarters are located in Aliso Viejo, California; the Canadian office is in Vancouver, BC; the Nordic office is in Uppsala, Sweden; and the European office is in Eindhoven, Holland. The company has a considerable distribution network in other markets. Given its mission to offer people a life without limitations, Ossur allocates an industry record of approximately eight percent of its revenue on medical technology research and development, and provides extensive education programs through the Ossur Academy. The company also sponsors a variety of community outreach programs and non-profit organizations. Website: www.ossur.com.
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