Apr 25, 2002
Panel Finds Medtronic Infringed Guidant Rapid-Exchange Patent

Guidant Awarded $158 Million In Damages

Indianapolis, Ind. - Guidant Corporation (NYSE and PCX: GDT), a world leader in the treatment of cardiac and vascular disease, reported that an arbitration panel ruled today that certain Medtronic AVE products infringed one of Guidant's rapid exchange patents. Guidant was awarded $158 million in damages plus interest and costs. The arbitration panel also granted an injunction against the sale of Medtronic AVE rapid exchange products in the United States. The Medtronic AVE products in dispute are not currently on the market because of a previous successful patent infringement suit brought by Boston Scientific.

"Guidant is pleased by the arbitration panel's decision," said Ronald W. Dollens, Guidant president and CEO. "The decision reaffirms the value and strength of Guidant's patent portfolio, including the Yock rapid exchange patents, which apply to Guidant's dilatation catheters as well as stent systems. Guidant will continue to vigorously protect its valuable intellectual property assets."

Guidant Corporation pioneers lifesaving technology, giving an opportunity for better life today to millions of cardiac and vascular patients worldwide. The company, driven by a strong entrepreneurial culture of more than 10,000 employees, develops, manufactures and markets a broad array of products and services that enable less invasive care for some of life's most threatening medical conditions.