Dispute Between Treace Medical and Fusion Orthopedics Resolved

Rhea-AI Summary

Treace Medical Concepts, Inc. (NASDAQ: TMCI) and Fusion Orthopedics, LLC have resolved their litigation concerning patent and trademark infringement. The lawsuit was initiated on March 29, 2022, when Treace Medical accused Fusion Orthopedics of infringing on its patents related to their respective bunion surgery products. Fusion Orthopedics countered with claims of non-infringement and invalidity. In March 2023, the parties reached a confidential settlement agreement, with Fusion Orthopedics expressing satisfaction with the outcome.

Positive

• Confidential settlement reached, potentially eliminating ongoing legal expenses.
• Fusion Orthopedics expresses satisfaction with the resolution.

Negative

• No details about potential financial implications or future business limitations were disclosed.
• -

MESA, Ariz.--(BUSINESS WIRE)-- Treace Medical Concepts, Inc. (NASDAQ: TMCI) (“Treace Medical”) and Fusion Orthopedics, LLC (“Fusion Orthopedics”) jointly announce that they have reached an amicable resolution of the litigation between the parties.

Treace Medical filed the lawsuit on March 29, 2022 against Fusion Orthopedics in the United States District Court for the District of Arizona, Civil Action No. 2:22- cv-00490, alleging patent, trademark, and copyright infringement, as well as various unfair trade practices based on Fusion Orthopedics’ use, sale, and promotion of the Lapilock 4D Advanced Bunion Surgery, including false advertising and unfair competition.

Fusion Orthopedics subsequently filed counterclaims against Treace Medical, requesting declaratory judgment of non-infringement and invalidity of the patents, declaratory judgment of invalidity of Treace Medical’s LAPIPLASTY trademark, as well as various unfair trade practices based on Treace Medical’s use, sale, and promotion of the Lapiplasty 3D Bunion Correction, including counterclaims of false descriptions and false advertising.

In March 2023, the parties entered into an agreement to settle this matter. While the terms of the settlement are confidential, Fusion Orthopedics is pleased with the outcome.

About Fusion Orthopedics

Fusion Orthopedics (www.fusionorthopedics.com) is a medical device company established in 2014 and known for numerous innovative technologies in the foot and ankle orthopedic market.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005938/en/

Media Contact

Corby Vowell, Esq

Lead Counsel

(817) 313-9548

corby@vowelllawfirm.com

Source: Fusion Orthopedics, LLC

FAQ

What was the outcome of the TMCI and Fusion Orthopedics litigation?

Treace Medical and Fusion Orthopedics have settled their litigation amicably in March 2023.

When was the lawsuit between TMCI and Fusion Orthopedics filed?

The lawsuit was filed on March 29, 2022.

What were the main allegations in the TMCI lawsuit against Fusion Orthopedics?

Treace Medical alleged patent, trademark, and copyright infringement, along with unfair trade practices.

Did Fusion Orthopedics file any counterclaims against TMCI?

Yes, Fusion Orthopedics filed counterclaims for non-infringement and invalidity of TMCI's patents.

Is the settlement agreement between TMCI and Fusion Orthopedics public?

No, the terms of the settlement are confidential.