ResMed settles licensing, patent spat for $25M
ResMed settles a licensing and patent infringement dispute with Australia's University of Sydney for $25 million.
The university sued San Diego-based ResMed in 2007 in the Federal Court of Australia, alleging that it failed to pay royalties and infringed patents covering sleep apnea masks. ResMed counter-sued and the case went into forced mediation in May 2013.
The mediation resulted in a "new partnership" and the $25 million payout to the school to "support its work, including the establishment of 2 perpetual academic chairs called the ResMed Chair of Sleep Medicine for sleep-disordered breathing with a focus on chronic disease and the ResMed Chair of Biomedical Engineering with an emphasis on bioinformatics research, as well as funding for research in related areas," according to a press release.