BioTelemetry, Inc. Announces Its Latest Success in Patent Enforcement
October 06 2015 - 8:00AM
BioTelemetry, Inc. (NASDAQ:BEAT), the leading wireless medical
technology company focused on the delivery of health information to
improve quality of life and reduce cost of care, is pleased to
announce that the Honorable Juan R. Sanchez of the Eastern District
of Pennsylvania has issued an October 2, 2015 Order finding
MedTel24, Inc. (“MedTel”) in contempt of a Consent Judgment
previously issued by the Court. The previously issued Consent
Judgment declared all five asserted BioTelemetry patents valid,
enforceable and infringed by MedTel. The Consent Judgment
also declared that MedTel is permanently enjoined from further
infringement and is required to deliver to BioTelemetry all
software, source code, hardware, and documentation relating to the
Heartrak ECAT system.
In the recent Order, Judge Sanchez specifically found that
BioTelemetry, “has established by clear and convincing evidence
that MedTel is in contempt of the Consent Judgment.” MedTel
was ordered to return, within 21 days of the Order, all of the
Heartrak ECAT materials it improperly retained in violation of the
Consent Judgment. Judge Sanchez has further ordered that
MedTel’s CEO is required to submit a declaration to the Court that
all of the materials have been returned within the 21-day window.
To ensure MedTel’s compliance, the Order also provided for a
substantial fine of $20,000 per day for each day beyond the 21 days
that MedTel fails to deliver the materials as directed.
The Court will issue a separate Order addressing MedTel’s other
potential violations of the Consent Judgment and BioTelemetry’s
requests for lost profits, expenses, attorneys’ fees and
sanctions.
BioTelemetry is represented by a litigation team from Ropes
& Gray LLP’s Manhattan office.
About BioTelemetry
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the
leading wireless medical technology company focused on the delivery
of health information to improve quality of life and reduce cost of
care. The Company currently provides cardiac monitoring
services, original equipment manufacturing with a primary focus on
cardiac monitoring devices and centralized cardiac core laboratory
services. More information can be found at www.gobio.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes certain forward-looking statements within
the meaning of the “Safe Harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These statements
may be identified by words such as “expect,” “anticipate,”
“estimate,” “intend,” “plan,” “believe,” “promises” and other words
and terms of similar meaning. Such forward-looking statements
are based on current expectations and involve inherent risks and
uncertainties, including important factors that could delay,
divert, or change any of these expectations, and could cause actual
outcomes and results to differ materially from current
expectations. These factors include, among other things, our
ability to defend our patent portfolio and obtain favorable
results, effects of changes in health care legislation,
effectiveness of our cost savings initiatives, relationships with
our government and commercial payors, changes to insurance coverage
and reimbursement levels for our products, the success of our sales
and marketing initiatives, our ability to attract and retain
talented executive management and sales personnel, our ability to
identify acquisition candidates, acquire them on attractive terms
and integrate their operations into our business, the
commercialization of new products, market factors, internal
research and development initiatives, partnered research and
development initiatives, competitive product development, changes
in governmental regulations and legislation, the continued
consolidation of payors, acceptance of our new products and
services, patent protection, adverse regulatory action, litigation
success, our ability to successfully create a new holding company
structure and to anticipate the benefits of such structure. For
further details and a discussion of these and other risks and
uncertainties, please see our public filings with the Securities
and Exchange Commission, including our latest periodic reports on
Form 10-K and 10-Q. We undertake no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
Contact:
BioTelemetry, Inc.
Heather C. Getz
Investor Relations
800-908-7103
investorrelations@biotelinc.com
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Sep 2024 to Oct 2024
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Oct 2023 to Oct 2024