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|Medtronic to Resume Sales of CoreValve System in Germany|
MINNEAPOLIS - Nov. 14, 2013 - Medtronic, Inc. (NYSE: MDT) announced that a German court today ordered the discontinuation, in its entirety, of a prior court ruling that prohibited Medtronic from commercially marketing or selling the CoreValve® System in Germany since August 26, 2013.
"Medtronic is very pleased with this decision as it will ensure that patients in Germany who need aortic valve replacement will have access to this life-saving therapy," said John Liddicoat, M.D., senior vice president, Medtronic, and president of the Medtronic Structural Heart Business. "As a result of the ruling, Medtronic will resume distribution of the CoreValve System in Germany."
The Higher Regional Court Karlsruhe explained that, due to the European Patent Office (EPO) preliminary opinion that the Edwards' EP2055266 Spenser patent claims are not valid, it could not assume "with sufficient likelihood" that the Spenser patent is valid.
Medtronic will post the €5 million bond required by the Order as soon as possible and then resume sales in Germany.
In collaboration with leading clinicians, researchers and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias. The company strives to offer products and services that deliver clinical and economic value to healthcare consumers and providers around the world.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.