Spectranetics Settles Lawsuit With Cook Vascular

COLORADO SPRINGS, Colo., April 10 – The Spectranetics Corp. has settled its lawsuit with Cook Vascular Inc. In October 1999, Cook filed a suit in the US Federal Court in Indiana claiming co-ownership of two patents issued to Spectranetics. On June 5, 2000, Cook amended its original complaint, alleging infringement by Spectranetics of a Cook patent directed to a mechanical device for removing implanted pacemaker leads. On March 27, 2001, a settlement agreement was entered into whereby Cook dismissed their claims against Spectranetics.

"We believe our settlement with Cook Vascular was favorable and now concludes a series of diverse legal activities over the last several months," said Paul Samek, Spectranetics' chief financial officer. "We expect the conclusion of these various legal activities will result in lower legal expenses to the company."

Spectranetics develops, manufactures and markets products that deliver excimer laser energy for minimally invasive surgical procedures within the cardiovascular system.