|By Marketwired .||
|May 1, 2014 05:00 AM EDT||
SAN DIEGO, CA -- (Marketwired) -- 05/01/14 -- Ivera Medical announced further detail behind its soon-to-be-released new Tips products, which the company announced earlier this month. The new product was developed after a Salt Lake City court ruled in favor of Salt Lake City-based Catheter Connections, enjoining Ivera from selling its then-current Tips product. While the company contests the Court's decision, to mitigate the impact on its customers Ivera has redesigned the product so that it clearly avoids the asserted patents. "I am proud of Ivera's ability to quickly bring a new design to market," said Bob Rogers, CEO of Ivera Medical. "Importantly, the patents Catheter Connections asserted against us were over specific shapes and dimensions of certain elements of our old Curos Tips. Those constraints were overcome in our molding process for the new Tips product."
The Court required Catheter Connections to post a bond, but acknowledged that the potential damage to Ivera was more significant than the bond it required, saying: "While the court recognizes that Ivera has set forth the significant losses it will suffer in the event that the preliminary injunction was issued in error, the court is more convinced that Catheter Connections cannot possibly provide a bond in an amount greater than $250,000 without destroying their business."
"We are disappointed with the Court's ruling, and we feel it is unjust and incorrect," said Mr. Rogers. "I am particularly alarmed at the low bond amount the Court imposed on Catheter Connections. The fact Catheter Connections is in a poor financial position is irrelevant to the amount of the bond that should be posted."
As of April 25, 2014, the prior version of Curos® Tips is no longer available. It is not being manufactured, used, offered for sale, or distributed by Ivera. Any order for Tips placed on April 25, 2014 or after, and any order previously placed but which had not yet been shipped as of that date, will be filled with the new design of the Tips product. The re-designed Tips product is projected to be available in early May 2014, and the packaging and product number for the redesigned Tips product will remain the same as the prior design.
About Ivera Medical
Ivera Medical Corporation, a certified Minority Business Enterprise (MBE), is focused on the design, development, manufacture, marketing and sale of products that help healthcare providers reduce facility-acquired patient infections. Curos, manufactured in Carlsbad, CA, is the first disinfecting cap to be marketed in the U.S. and has received FDA's 510(k) market clearance. For more information about Curos and Ivera Medical, visit the website at www.curos.com
Vice President, Business Development
Ivera Medical Corp.
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