Conformis, Inc., Bodycad Laboratories, Inc. and Bodycad USA Corp. Announce Settlement of Patent Litigation

Rhea-AI Summary

Conformis Inc. (NASDAQ:CFMS) and Bodycad Laboratories have settled a patent infringement dispute initiated in June 2021. The settlement involves an undisclosed financial agreement, allowing both companies to dismiss all litigation and grant licenses related to Conformis' patents for patient-specific instruments and knee implants. This resolution is aimed at fostering innovation in orthopedic patient care, which aligns with Conformis' mission to offer personalized solutions through its Image-to-Implant® program and Surgery-in-a-Box™ delivery system.

Positive

• Settlement of patent dispute enhances cooperation between Conformis and Bodycad.
• The resolution allows Conformis to focus on innovation and patient-specific orthopedic solutions.

Negative

• None.

Conformis and Bodycad Settle Litigation Related to Bodycad’s Patient-Specific Instruments and Implants

BILLERICA, Mass., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ:CFMS) along with Bodycad Laboratories, Inc. and Bodycad USA Corp. announced today that they have entered into a settlement and license agreement that resolves the patent infringement dispute filed by Conformis in June of 2021.

Conformis and Bodycad are pleased to have resolved their ongoing patent litigation. The companies have amicably agreed to an undisclosed amount for the dismissal of all patent litigation between the companies along with a release and license to certain Conformis patents related to patient-specific instrumentation and knee implants.

About Conformis, Inc.

Founded in 2004, Conformis is a medical technology company focused on advancing orthopedic patient care and creating a world without joint pain. Its product portfolio is designed to maximize surgeon and patient choice by offering fully personalized solutions through its Image-to-Implant® Platinum Services℠ Program, as well as data-informed, standardized solutions that combine many benefits of personalization with the convenience and flexibility of an off-the-shelf system. Conformis’ sterile, just-in-time, Surgery-in-a-Box™ delivery system is available with all of its implants and personalized, single-use instruments. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover personalized implants and patient-specific instrumentation for all major joints.

For more information, visit www.conformis.com. To receive future releases in e-mail alerts, sign up at ir.conformis.com.

CONTACT:
Investor Contact
ir@conformis.com 
+1 (781) 374-5598

About Bodycad Laboratories, Inc.

Bodycad is a Canadian company that is transforming the current standards in orthopaedic implants to help surgeons and patients achieve their mutual goal of a perfect Personalized Restoration™. With the help of Bodycad’s proprietary software, its integrated planning process as well as its fully vertically integrated manufacturing facility, surgeons can quickly and efficiently achieve specific design plans and personalized restorations based on the precise anatomical specifications of their patients. Bodycad’s unique approach offers patients and surgeons the potential of greater comfort, fit and durability, thereby making the pursuit of orthopaedic perfection possible. Learn more at www.bodycad.com.

CONTACT:
Corporate Headquarters
+1 (866) 527-1388

 

FAQ

What did Conformis announce on February 15, 2023 regarding CFMS?

Conformis announced a settlement and license agreement with Bodycad, resolving a patent infringement dispute.

What is the significance of the settlement between Conformis and Bodycad?

The settlement allows for the dismissal of all litigation and a license for certain Conformis patents, which can foster innovation.

How does the settlement impact Conformis and its operations?

The settlement enables Conformis to concentrate on its business without the distraction of ongoing litigation.