STEWARTVILLE, Minn., Jan. 15 /PRNewswire-FirstCall/ -- Rochester Medical
Corporation (Nasdaq: ROCM) today announced that Covidien Ltd. and Rochester
Medical have reached a settlement to the litigation which Rochester Medical
filed on March 16, 2004 against C.R. Bard, Inc; TYCO International (US) Inc.;
TYCO Healthcare Group, L.P.; Novation, LLC; VHA Inc.; and Premier Purchasing
Partners L.P. (Premier).
Under the terms of the settlement, Rochester Medical, represented by The
Lanier Law Firm P.C. and Patton, Tidwell, & Schroeder, L.L.P., is dismissing
TYCO International (US) Inc.; TYCO Healthcare Group, L.P. and Covidien Ltd.
from the litigation with prejudice, and Covidien Ltd. is paying Rochester
Medical a total of $3,500,000 out of which Rochester Medical will pay
approximately $2,500,000 in attorney's fees and expenses. The impact of the
settlement will be reflected in the Company's second quarter financials.
Rochester Medical has previously announced settlement agreements with all
other defendants in the case.
Rochester Medical Corporation develops, manufactures, and markets
disposable medical catheters and devices for urological and continence care
applications. The Company markets under its own Rochester Medical(R) brand
and under existing private label arrangements.
For further information, please contact Anthony J. Conway, President and
Chief Executive Officer of Rochester Medical Corporation at (507) 533-9600.
More information about Rochester Medical is available on its website at
http://www.rocm.com.
SOURCE Rochester Medical Corporation