A Medical Device Daily
Palomar Medical Technologies (Burlington, Massachusetts) reported that will receive $31 million plus royalties as part of a settlement over their patent-infringement case against Syneron (Yokneam, Israel) over hair removal-systems.
Syneron and its Candela (Wayland, Massachusetts) unit will get a license to Palomar technology for professional hair-removal systems, and will pay royalties for home-use products, the companies said in a statement. Palomar will also get a license to some Syneron patents.
The settlement ends a dispute started in 2006 over high-powered lasers used to remove hair. The agreement “eliminates our exposure to continued legal liability in the matter, does not require any additional payments for professional hair-removal systems, and supports our ongoing efforts to improve the company's gross and operating margins,“ Syneron CEO Louis Scafuri said.
Both companies make light-based systems for cosmetic procedures including the removal of hair, wrinkles and varicose veins.