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Arthrex, Parcus reach litigation settlement
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Arthrex and Parcus have reached a settlement to litigation regarding the alleged unlawful taking of patented and trade secret information in the field of orthopedics by former Arthrex employees.
Under the terms of the settlement, Parcus acknowledged that certain ex-Arthrex employees took proprietary information, including product manufacturing programming and manufacturing intelligence relating to Arthrex products from the company, and that this information was found in Parcus’ possession without Arthrex’s authorization, according to a press release from Arthrex.
Remedial measures agreed to in the settlement included purging Arthrex proprietary information from Parcus and compensation to Arthrex.
Parcus also acknowledged that certain Parcus drill guides use patented technology in Arthrex’s United States Patent No. 5,993,451. Parcus acknowledged that this patent is valid and regrets the use of this technology without Arthrex’s authorization, according to the release.
Unrelated to the litigation, Parcus admitted some of its products use Arthrex’s technology in United States Patent No. 8,343,186, United States Patent No. 8,623,052, and United States Patent No. 8,801,755. Parcus has agreed to pay royalties for use of the features contained in these patents, according to the release.