Thermo Electron Corp. has agreed to pay Fischer Imaging Corp. the remaining $4.25 million balance from a 2002 patent settlement.
Combined with the regular quarterly payment of $900,000, Fischer Imaging has received $5.15 million during the second quarter.
Fischer Imaging and Thermo Electron settled their then-10-year-old patent infringement suit in June 2002. The agreement stipulated that Fischer receive a total of $32.2 million over eight years.
The dispute involved Fischer Imaging's Mammotest stereotactic breast biopsy system and StereoGuide, a breast biopsy system launched by the former Lorad Corp. Fischer Imaging filed its patent infringement suit against Lorad in April 1992 and proceeded with its legal case six years later when the former Trex Medical Corp. acquired Lorad.
The lawsuit took an even more circuitous route in September 2000, when Hologic Inc. (Bedford, Mass.) acquired Trex from Thermo Electron. It was written into the Hologic-Trex transaction that Thermo Electron retains certain responsibilities for Fischer's patent litigation.
Fischer Imaging received $25 million in cash from Trex at the time of the settlement and a total of $7.2 million - in equal, periodic payments of $900,000 - over the following eight years through the remaining term of the patents for the continued sale of Hologic's Lorad MultiCare stereotactic breast biopsy system.