Rochester Medical Corporation Announces Settlement Agreement With C.R. Bard, Inc.
December 14 2006 - 4:15PM
PR Newswire (US)
STEWARTVILLE, Minn., Dec. 14 /PRNewswire-FirstCall/ -- Rochester
Medical Corporation (NASDAQ:ROCM) today announced that C.R. Bard,
Inc. and the Company have reached a Settlement Agreement under
which the Company will dismiss C.R. Bard, Inc. from litigation
which Rochester Medical filed on March 16, 2004 against C.R. Bard,
Inc.; TYCO International (US) Inc.; TYCO Healthcare Group, L.P.;
Novation, LLC; VHA Inc.; and Premier Purchasing Partners L.P.
(Premier). Under the Settlement Agreement, Rochester Medical,
represented by The Lanier Law Firm P.C. and Patton, Tidwell, &
Schroeder, L.L.P., is dismissing C.R. Bard, Inc. from the
litigation with prejudice, and C.R. Bard, Inc. is paying Rochester
Medical a total of $49,000,000 out of which Rochester Medical will
pay its attorney's fees. The impact of the settlement will be
reflected in the current quarter's financials. On November 20, 2006
Rochester Medical announced a Settlement Agreement on the case with
Premier. The litigation continues against the other defendants in
the case. It is scheduled for trial in May 2007. Rochester Medical
Corporation develops, manufactures, and markets disposable medical
catheters and devices for urological and continence care
applications. The Company markets under its own Rochester
Medical(R) brand and under existing private label arrangements. For
further information, please contact Anthony J. Conway, President
and Chief Executive Officer of Rochester Medical Corporation at
(507) 533-9600. More information about Rochester Medical is
available on its website at http://www.rocm.com/ . DATASOURCE:
Rochester Medical Corporation CONTACT: Anthony J. Conway, President
and Chief Executive Officer of Rochester Medical Corporation,
+1-507-533-9600 Web site: http://www.rocm.com/
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