Bausch & Lomb and Oasis Medical Announce Settlement of Patent Infringement Lawsuit.Business Editors/Health/Medical Writers ROCHESTER, N.Y. & GLENDORA, Calif.--(BUSINESS WIRE)--Nov. 14, 2003 Bausch & Lomb Incorporated (NYSE NYSE See: New York Stock Exchange :BOL BOL Bolivia (ISO Country code) BOL Books Online BOL Bole (SIL code, Nigeria) BOL Bill Of Lading BOL Beginning Of Line BOL Best Of Luck BOL Buzz Out Loud BOL Bruin Online BOL Beginning Of Life ) and Oasis Medical, Inc., have agreed to settle a lawsuit involving a patent relating to blades used in pivoting microkeratomes - instruments used in the LASIK LASIK laser-assisted in-situ keratomileusis. LA·SIK n. Eye surgery in which the surface of the cornea is reshaped using a laser, performed to correct certain refractive disorders such as myopia. refractive refractive capacity to refract light. refractive error a difference between the focal length of the cornea and lens, and the length of the eye, resulting in myopia or hyperopia. laser surgery procedure. The settlement agreement resolves the patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit filed by Bausch & Lomb against Oasis in October 2000 in U.S. District Court in Los Angeles. The settlement terms, in acknowledging the validity and infringement of the Bausch & Lomb patent, include an agreement by Oasis to stop manufacturing and selling blades for the Bausch & Lomb Hansatome(R) microkeratome, and an agreement by Bausch & Lomb to license its patented technology to Oasis to manufacture pivoting microkeratome blade assemblies for non-Bausch & Lomb microkeratomes. In exchange for other financial consideration, Bausch & Lomb acquires the Oasis microkeratome blade patent issued by the U.S. Patent and Trademark Office on April 1, 2003, and licenses the Oasis proprietary manufacturing technology for microkeratome blades. Under the settlement agreement, both parties have agreed that no further details will be provided. This news release contains, among other things, certain statements of a forward-looking nature relating to future events or the future business performance of Bausch & Lomb. Such statements involve a number of risks and uncertainties including those concerning global and local economic, political and sociological conditions, currency exchange rates, government pricing changes and initiatives with respect to healthcare products, product development and rationalization, enrollment and completion of clinical trials, regulatory approvals, the outcome of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , product introductions, the financial well-being of key customers, development partners and suppliers, the successful execution of marketing strategies, the continued successful implementation of its efforts in managing and reducing costs and expenses, continued positive relations with third party financing sources, as well as the risk factors listed from time to time in the Company's SEC filings, including but not limited to the current report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , dated June 14, 2002, and the Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 27, 2003. Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Celebrating its 150th anniversary in 2003, the Company is headquartered in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or . Bausch & Lomb's 2002 revenues were $1.8 billion; it employs approximately 11,500 people worldwide and its products are available in more than 100 countries. More information about the Company can be found on the Bausch & Lomb Web site at www.bausch.com. Copyright Bausch & Lomb. |
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