Ra Medical Systems, Inc. Wins Monetary Award Against PhotoMedex, Inc. (PHMD).CARLSBAD, Calif. -- Ra Medical Systems announced today that the Superior Court of California for San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. has awarded it and its founder, Dean Irwin, additional costs and fees in excess of $30,000 in its successful defense of an action bought by PhotoMedex (Nasdaq:PHMD). This award follows an award last year in excess of $100,000 against PhotoMedex, which had sued Ra Medical and Dean Irwin for breach of contract, interference with contracts, misappropriation misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any of trade secrets and conversion but was unable to produce any evidence to support their claims, including the alleged contract it claimed it entered into with Irwin. PhotoMedex attempted on multiple occasions to avoid having to pay Ra Medical and Irwin for their attorney's fees and costs. Each attempt was rejected by the Courts. Ra Medical had incurred additional costs in defending against PhotoMedex's appeal of the initial award. Once its appeal was denied, PhotoMedex failed to make payment on the judgment entered against it, and Ra Medical was forced to use the services of the local sheriff. PhotoMedex paid the initial judgment only after the sheriff appeared at its corporate headquarters. PhotoMedex has now failed to pay the additional amount awarded, and Ra Medical is in the process of taking action to enforce the award. "PhotoMedex's malicious actions are transparent," commented Dean Irwin. He added, "PhotoMedex instituted a spurious lawsuit against us and after losing at all levels of the California courts, forced us to make extraordinary collection efforts to obtain the monies owed us. Their action against us had no legal merit and was instituted solely to stifle competition. We have brought an action against PhotoMedex and its attorneys for malicious prosecution An action for damages brought by one against whom a civil suit or criminal proceeding has been unsuccessfully commenced without Probable Cause and for a purpose other than that of bringing the alleged offender to justice. and are looking forward to our day in court in the next few weeks. PhotoMedex' days of misuse of the legal system to achieve what it has been unable to do in the marketplace are coming to a close." Ra Medical also announced a five year extension of the license agreement for the manufacturing and marketing rights to the EX-308. The technology was transferred to Ra Medical in 2003 from SurgiLight, Inc. SurgiLight Chairwoman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Colette Cozean, Ph.D., said that the license agreement was renewed because "Ra Medical has done a wonderful job of marketing the EX-308. They have demonstrated high physician and patient satisfaction, and the agreement has benefited both companies." Ra Medical Systems, Inc. (www.ramed.com), based in Carlsbad, CA, manufactures and markets an advanced excimer laser A gas laser in which a very short electrical pulse excites a mixture containing a halogen such as fluorine and a rare gas such as argon or krypton. It produces a brief, intense pulse of ultraviolet light. system for medical treatments of skin diseases and disorders, including psoriasis psoriasis (sôrī`əsĭs), occasionally acute but usually chronic and recurrent inflammation of the skin. The exact cause is unknown, but the disease appears to be an inherited, possibly autoimmune disorder that causes the and vitiligo vitiligo or leukoderma Skin disorder manifested by smooth, white spots on various parts of the body. Though the pigment-making cells of the skin, or melanocytes, are structurally intact, they have lost the ability to synthesize the pigment. . Contact Dean Irwin, President, 760-804-1648. SurgiLight, Inc. (www.surgilight.com) is a leader in the development and acquisition of new laser technologies for ophthalmic applications, including presbyopia Presbyopia Definition The term presbyopia means "old eye" and is a vision condition involving the loss of the eye's ability to focus on close objects. reversal and treatment, cataract removal and treatment of glaucoma glaucoma (glôkō`mə), ocular disorder characterized by pressure within the eyeball caused by an excessive amount of aqueous humor (the fluid substance filling the eyeball). . The Company holds 16 patents, with 23 patents pending. |
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