Arthrex paid $95 million to Smith & Nephew in connection with a patent infringement case.
Here are eight things to know:
1. The U.S. Court of Appeals for the Federal Circuit affirmed a $95 million patent infringement judgment against Arthrex, in favor of Smith & Nephew.
2. Arthrex paid $99 million in satisfaction of the judgment, which also includes $4 million in costs and interest payments.
3. Arthrex continues to challenge some rulings in the case through the appellate courts.
4. Net of various expenses, Smith & Nephew expects more than half of the payment amount will be recognized in the second quarter trading report.
5. The patent pertained to "fundamental technology" used to implant suture anchors that surgically reattached soft tissue to own bone.
6. John O. Hayhurst, MD, of Portland, Ore., owns the patent — which is now expired — and licensed it exclusively to Smith & Nephew.
7. The case was first filed in 2004, and the most recent appeal was from a 2013 District Court Ruling.
8. Arthrex also agreed recently to pay $35 million to KFx in a separate patent infringement case.