ATS Medical to pay $7.5M settlement to Sorin

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Sorin Group, a medical device company for the treatment of cardiovascular diseases, has reached settlement of a lawsuit related to its supply agreement with ATS Medical.

Under the agreement, the Minneapolis-based ATS will pay $7.5 million dollars in damages to Sorin’s subdivision CarboMetrics over the next year to settle a lawsuit related to ATS’s supply agreement for certain mechanical heart valve components.

“This settlement, following the U.S. District Court’s denial of ATS’ motion to dismiss, is very favorable to Sorin Group. The settlement also confirms the strength of our position and shows that we will vigorously enforce our legal rights,” said Brian Sheridan, general counsel of the Milan, Italy-based Sorin.