February 7, 2014 by Brad Perriello
The U.S. Patent & Trademark Office nixes 2 patents at issue in Smith & Nephew's long-running infringement battle with Interlace Medical and subsequent acquirer Hologic. The U.S. Patent & Trademark Office dealt a setback to Smith & Nephew (FTSE: SN , NYSE: SNN ) last month when it invalidated claims in a pair of patents at the core of a long-running infringement dispute with Interlace Medical and its subsequent acquirer, Hologic  (NSDQ: HOLX ). Smith & Nephew sued Interlace in 2010, alleging infringement of a pair of patents with the MyoSure fibroid tumor device, and filed against Hologic after the Interlace buyout in January 2011. Sign up to get our free newsletters delivered right to your inbox. In September 2012, a jury  awarded $4 million in damages  to cover Smith & Nephew's lost profits from the infringement. Further damages, however, can't yet be decided because the jury's verdict was too vague, according to Judge Rya Zobel of the U.S. District Court for Massachusetts. In October 2013, Hologic  asked a federal judge in Massachusetts to revisit that loss . Last June, Judge Rya Zobel of the U.S. District Court for Massachusetts  upheld that decision  but found that any damages owed by Hologic to the British medical products giant couldn't yet be determined.

U.S. Patent Office nixes Smith & Nephew patents in spat with Hologic

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Hologic asks court to revisit loss to Smith & Nephew over MyoSure device

Hologic says a Massachusetts jury ruled against it in a patent infringement lawsuit, awarding damages of $4 million over the MyoSure device Hologic acquired along with Interlace Medical.
        
        


Legal News, News Well, Patent Infringement, Women&amp;#039;s Healthread more

Hologic loses $4M patent suit to Smith &amp; Nephew over Interlace fibroid tech

Hologic Buys Interlace Medical for $125 Mln
January 11, 2011
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Interlace Medical, which was backed by Baird Venture Partners, has been sold to Hologic for $125 million. Additional earn-out payments can take place over the next two years, a statement said. Framingham, Mass.-based Interlace is a medical device company that has developed the MyoSure, which is used to remove intrauterine fibroids and polyps. Interlace received $20.5 million in Series C financing in 2009 from investors including BVP, Spray Venture Partners and New Leaf Venture Partners. Baird Venture Partners is the U.S. VC fund of Baird Private Equity. PRESS RELEASE
Baird Venture Partners (BVP), the U.S.-based venture fund of Baird Private Equity, announced today that Interlace Medical (Interlace), a Baird Venture Partners III portfolio company, has been sold to Hologic for $125 million with additional earn-out payments over the next two years. This acquisition will allow Interlace to accelerate the adoption of its products through the Hologic distribution network. In June 2009, Interlace raised $20.5 million in Series C financing from investors that included BVP, Spray Venture Partners, New Leaf Venture Partners, HLM Venture Partners, Hambrecht & Quist Capital Management LLC, and Aperture Venture Partners. Based in Framingham, Mass., Interlace is a medical device company dedicated to providing novel solutions within the women’s health sector. Interlace developed and commercialized the MyoSure™ system, an easy-to-use, minimally invasive treatment to remove intrauterine fibroids and polyps. Fibroids are a common cause of abnormal uterine bleeding, which afflicts 5 million women in the United States. The MyoSure system’s allows physicians the flexibility to conduct procedures in either an operating room or office setting. “We were able to partner with a great management team at Interlace to develop a much needed product serving the women’s health sector,” said Michael Liang, BVP Partner. “The acquisition of Interlace by Hologic provides a nice early return for our BVP III investors, and further validates our strategy of proactively identifying healthcare companies that are capital efficient and can be an attractive acquisition for trade buyers.”
“Baird Venture Partners has been a great partner for us,” said Bill Gruber, Interlace President and CEO. “Their lead role in our latest financing and active role on the Board accelerated our growth initiatives and ability to get the MyoSure product into the marketplace. Their involvement was invaluable to help us enter our next phase of growth as part of Hologic.”
Baird Venture Partners raised BVP III, a $170 million fund, in 2008. The Fund has made eight investments to date. About Baird Venture Partners
Baird Venture Partners, the U.S.-based venture capital fund of Baird Private Equity, makes venture capital investments in early and expansion stage business services and life sciences companies. Baird Venture Partners leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. For more information, please visit www.bairdventurepartners.com. About Baird Private Equity
Baird Private Equity, the global private equity group of Robert W. Baird & Co. (Baird), makes venture capital, growth equity and buyout investments in smaller, high potential companies in the United States through Baird Venture Partners and Baird Capital Partners, in China through Baird Capital Partners Asia, and in Europe through Baird Capital Partners Europe. Baird Private Equity has a global team of investment and operations professionals in nine offices across the United States, Europe and Asia, including a team of operating professionals in Asia. Baird Private Equity and its affiliates have raised and managed over $2.7 billion in capital and invested in more than 240 companies since the 1980s. For more information, please visit www.bairdprivateequity.com. © 2015 Buyouts Insider / Argosy Group LLC

Hologic Buys Interlace Medical for $125 Mln

XconomyBoston — 
Bedford, MA-based Hologic, a provider of diagnostics, medical imaging, and surgical products for women, announced today that it has bought Interlace Medical of Framingham, MA, for $125 million in cash. Interlace, which makes a hysteroscopic tissue removal system, will be integrated into Hologic’s (NASDAQ: HOLX ) gynecological surgical products business. The deal also includes two annual contingent payments, which will be a “multiple of the incremental revenue growth over the prior year,” according to the announcement.

Hologic Buys Interlace for $125M

Interlace Medical

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Interlace Medical Corporation designs and develops minimally invasive devices for the gynecological surgeon to aid them in removal of uterine fibroids and polyps.

Hologic

Menlo Care

Rita Medical Systems, Inc. provides RF ablation devices for minimally invasive cancer treatment

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Compare Interlace Medical vs Rita Medical Systems

Customers evaluate the quality of Interlace Medical's products using the following success metrics.