Superior Court of Delaware awards Vimian USD 40.2 million in indemnification dispute
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
The Superior Court of the State of Delaware in US has rendered a decision that the largest seller of Veterinary Orthopedic Implants, LLC (“VOI”), previously owning 55.6 percent of VOI, shall indemnify Vimian with USD 40.2 million. Together with previously reached settlements with the other sellers, this means that Vimian is entitled to compensation exceeding the USD 70 million settlement paid to DePuy Synthes in April 2023.
Following the USD 70 million settlement with DePuy Synthes in the US patent dispute in April 2023, Vimian initiated the process to retrieve compensation from the sellers of Vimian’s subsidiary VOI as per the indemnification in the purchase agreement from the acquisition of VOI. In 2024, settlement agreements were reached with three out of four sellers. The Superior Court of the State of Delaware has rendered a decision that the final remaining seller previously owning 55.6 per cent of VOI shall indemnify Vimian with in total USD 40.2 million. The indemnification amount is before applying the largest seller’s portion of the contingent closing note in the purchase agreement.
More background on the dispute can be found in Vimian’s Annual Reports from 2023 and 2024.