We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress hp
Sign In
Advertise with Us
GLOBETECH PUBLISHING LLC

Download Mobile App




Medinol Sues Boston Scientific for Fraud and Theft

By HospiMedica staff writers
Posted on 20 Apr 2001
A lawsuit has been filed in a New York federal court by stent supplier Medinol, Ltd. More...
(Tel Aviv, Israel), accusing Boston Scientific Corp. (Natick, MA, USA) of defrauding the U.S. Food and Drug Administration (FDA) and of intellectual property theft. The suit also accuses Boston Scientific of breach of contract and failure to bring products to market.

Boston Scientific is Medinol's chief client, with worldwide distribution rights for Medinol's stents, and has been in negotiations to acquire Medinol. Currently, Boston Scientific holds a 22% stake in the company. According to Medinol, Boston Scientific has tried to buy another 64% of Medinol for about US$2 billion, after the owners initially asked for at least three times that amount.

Medinol alleges that Boston copied Medinol's stent manufacturing equipment and transferred it to a company called BBD in Ireland. Medinol also alleges that Boston Scientific copied the design of Medinol's stents but attributed them to BBD and called them by another product name, thereby defrauding the FDA.

Boston Scientific says Medinol's suit has no merit. "This lawsuit relies primarily on false accusations and baseless claims that Medinol apparently hopes will pressure Boston Scientific into paying an inflated price to acquire Medinol,” stated Paul Donovan, a spokesman for Boston Scientific. He explained that Medinol seeks an injunction that would prohibit Boston from marketing the NIR stent and would enable Medinol to sell its stents independent of Boston.

"Medinol is not entitled to the remedies it has requested,” he said. "Boston Scientific has lost revenue, market share, and market capitalization as a result of Medinol's refusal to develop and supply new stent products. We will seek full restitution for the losses resulting from Medinol's refusal to develop and supply new stent products.” He also noted that Boston's internal stent development program is a top priority of the company.




Related Links:
Boston Scientific

Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
Gold Member
12-Channel ECG
CM1200B
New
Radial Artery Compression Device
TR Band
New
Ultrasonic Dissector
SONICBEAT
Read the full article by registering today, it's FREE! It's Free!
Register now for FREE to HospiMedica.com and get access to news and events that shape the world of Hospital Medicine.
  • Free digital version edition of HospiMedica International sent by email on regular basis
  • Free print version of HospiMedica International magazine (available only outside USA and Canada).
  • Free and unlimited access to back issues of HospiMedica International in digital format
  • Free HospiMedica International Newsletter sent every week containing the latest news
  • Free breaking news sent via email
  • Free access to Events Calendar
  • Free access to LinkXpress new product services
  • REGISTRATION IS FREE AND EASY!
Click here to Register








Channels

Critical Care

view channel
Image: Researchers have taken a major step toward cuff-free blood pressure monitoring (Photo courtesy of Gwyneth Moe/Boston University)

Cuff-Free Blood Pressure Monitoring Device to Improve Early Detection and Management of Hypertension

Hypertension affects nearly half of all adults in the U.S. and remains the leading cause of cardiovascular disease. Regular and accurate blood pressure monitoring is essential for managing this condition,... Read more

Patient Care

view channel
Image: The revolutionary automatic IV-Line flushing device set for launch in the EU and US in 2026 (Photo courtesy of Droplet IV)

Revolutionary Automatic IV-Line Flushing Device to Enhance Infusion Care

More than 80% of in-hospital patients receive intravenous (IV) therapy. Every dose of IV medicine delivered in a small volume (<250 mL) infusion bag should be followed by subsequent flushing to ensure... Read more
Copyright © 2000-2025 Globetech Media. All rights reserved.