Jury verdict in patent dispute with DePuy Synthes
A jury in the U.S. Middle District of Florida decided today that Vimian Group AB (publ)’s (“Vimian”) subsidiary, Veterinary Orthopedic Implants, LLC (“VOI”), which is part of Vimian’s MedTech segment, infringes certain patent rights of DePuy Synthes Products, Inc. and DePuy Synthes Sales, Inc. (“Synthes”). The jury awarded Synthes USD 59.5 million in damages and found wilful infringement by VOI. Through the purchase agreement for the acquisition of VOI, Vimian has contractual indemnification protection for the amount of the verdict.
As previously disclosed in the company description published ahead of Vimian’s listing on Nasdaq First North Growth Market in June 2021, Synthes filed a lawsuit against VOI in 2018 alleging that two Synthes patents are infringed by VOI’s plates used in Tibial Plateau Levelling Osteotomy (TPLO) surgical procedures that treat cruciate ligament ruptures in the knee joints of dogs. VOI was acquired in June 2018 and is today a subsidiary within Vimian’s MedTech segment Movora. Through the purchase agreement for the acquisition of VOI, Vimian has contractual indemnification protection for the amount of the verdict, including certain collateral, in the Synthes lawsuit.
VOI strongly disagrees with the jury verdict and will explore its options with respect to the jury verdict, including post-trial motions and an appeal. The jury verdict is not a formal judgement by the Florida court, which is not expected until later this year.
