Parties Reach an Agreement that Concludes
Outstanding Intellectual Property Disputes
REDWOOD
CITY, Calif., Aug. 1, 2022
/PRNewswire/ -- Nevro Corp. (NYSE: NVRO) and Boston Scientific
Corp. (NYSE: BSX) announced today that they have reached a
settlement in their ongoing intellectual property litigations that
gives Boston Scientific the freedom to operate using the features
and capabilities embodied in its current line of products for
frequencies below 1,500 Hz, and gives Nevro the freedom to operate
using the features and capabilities embodied in its current line of
products.
Nevro will grant Boston Scientific a worldwide, non-exclusive,
non-transferable license to practice paresthesia-free therapy at
frequencies below 1,500 Hz and a covenant not to sue for any
features embodied in any current Boston Scientific products for
frequencies below 1,500 Hz. Boston Scientific also will grant
Nevro a worldwide, non-exclusive, non-transferable license under
Boston Scientific's asserted patent families and a covenant not to
sue for any features embodied in any current Nevro
products.
This settlement concludes all of the existing litigations
between Nevro and Boston Scientific, and includes a net payment
from Boston Scientific to Nevro of $85
million.
Internet Posting of Information
Nevro routinely posts information that may be important to
investors in the "Investor Relations" section of its website at
www.nevro.com. The company encourages investors and potential
investors to consult the Nevro website regularly for important
information about Nevro.
About Nevro
Headquartered in Redwood City,
California, Nevro is a global medical device company focused
on delivering comprehensive, life-changing solutions that continue
to set the standard for enduring patient outcomes in chronic pain
treatment. The company started with a simple mission to help more
patients suffering from debilitating pain and developed its
proprietary 10 kHz Therapy, an evidence-based, non-pharmacologic
innovation that has impacted the lives of more than 80,000 patients
globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS)
platform includes a Senza SCS system and support services for the
treatment of chronic trunk and limb pain and painful diabetic
neuropathy.
Senza®, Senza II®, and Senza Omnia™ are the only SCS systems
that deliver Nevro's proprietary 10 kHz Therapy. Nevro's unique
support services provide every patient with an HFX Coach™
throughout their pain relief journey and every physician with HFX
Cloud™ insights for enhanced patient and practice management.
Senza, Senza II, Senza Omnia, HFX, HXF Coach, HFX Cloud, HFX
Connect, Nevro and the Nevro logo are trademarks of Nevro Corp.
To learn more about Nevro, connect with us
on LinkedIn, Twitter, Facebook and Instagram.
Investors and Media:
Julie
Dewey, IRC
Nevro Corp.
Chief Corp Communications and Investor Relations Officer
650-433-3247 | julie.dewey@nevro.com
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SOURCE Nevro Corp.