Healthcare Industry News: Masimo
News Release - September 25, 2007
NIR Diagnostics joins Shaklee in patent infringement lawsuit against Masimo Corporation
CAMPBELLVILLE, ON, Sept. 25 (Healthcare Sales & Marketing Network) - NIR Diagnostics Inc. (TSX Venture: NID ), an innovator in the development of handheld medical diagnostic devices, today announced it has agreed, effective September 24, 2007, to act as co-plaintiff with Shaklee Corporation in a patent infringement action against Masimo Corporation of California. The suit, originally filed on July 24, 2007 in the United States District Court, Central District of California, alleges infringement of U.S. Patent No. 6,651,015 and U.S. Patent No. 6,611,777.The alleged infringed patents were licensed by NIR Diagnostics Inc. to Shaklee Corporation under the Second Amended and Restated Exclusive License Agreement of August 4, 2006 between the companies. Under the terms of the license agreement, Shaklee holds the right to enforce the licensed patents from infringement and is obligated to pay all costs and expenses incurred for such action. The agreement also stipulates that Shaklee and NIR Diagnostics share equally in any proceeds, net of expenses, from infringement litigation related to the licensed patents.
About NIR Diagnostics
NIR Diagnostics is a leader in the development of near-infrared spectroscopic medical diagnostics. The Company has an extensive portfolio of optical, electronic and algorithm related patents in the field of in-vitro and in-vivo blood analysis.
Forward-looking Statements
This press release contains information that is forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts. Particularly, statements about the planned development of diagnostic devices and the sufficiency of funds available to finance ongoing operations are forward-looking information.
Forward-looking information, by its nature necessarily involves risks and uncertainties including, without limitation, the difficulty of predicting regulatory approvals, market acceptance and demand for new products, the protection of intellectual property connected with devices, the impact of competitive products, and other similar or related risks and uncertainties. Additional risks and uncertainties affecting the Company are discussed in the Risks and Uncertainties section of the MD&A for the year ended December 31, 2006 available on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Source: NIR Diagnostics
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