BUFFALO GROVE, Ill. — Howard Kelly, Chief Executive Officer of Alma Lasers, announced today that Alma Lasers, Ltd. and Palomar Medical Technologies, Inc. have settled their civil action filed in the United States District Court for the District of Massachusetts. The suit involves certain US hair removal patents owned by Massachusetts General Hospital and licensed exclusively to Palomar.
Under the settlement agreement, Alma Lasers obtains a non-exclusive license to utilize the patented technology in its product line. “With the best interests of Alma Lasers’ customers in mind, we decided to enter into a licensing agreement with Palomar,” explained Mr. Kelly. Through the settlement, Alma Lasers has avoided a potentially long and expensive legal battle.
In practical terms, the settlement means Alma Lasers can continue its strategy of innovation through technology without interruption. “Because we’ve removed these patent issues with Palomar,” said Mr. Kelly, “the leadership and product development teams at Alma Lasers will be able to focus solely on achieving our core vision – to be a global leader in providing technology-based solutions to the aesthetic marketplace.”
About Alma Lasers, Ltd.
Alma Lasers, Ltd. is a global developer, manufacturer and seller of laser, light-based and radiofrequency devices for aesthetic and medical applications. Since 1980, the founders of Alma Lasers have been at the forefront of innovative laser, light-based and RF medical technology.
Their technical expertise and in-depth understanding of practitioners’ needs led to the development of Alma Lasers’ multi-technology/multi-application systems.
Alma Lasers’ mission is to provide modular, cost-effective and high performance designs that enable medical practitioners to confidently offer safe, effective and profitable aesthetic treatments to their patients.
More information about Alma Lasers can be found at http://www.almalasers.com.
[tags]Palomar Medical Technologies, Alma Lasers Ltd, medical radiofrequency devices[/tags]