Colibri Heart Valve claimed in 2019 that Medtronic violated its patents for replacement heart valves. The lawsuit alleged infringement of two patents with the Medtronic CoreValve, CoreValve Evolut R, CoreValve Evolut Pro, and CoreValve Evolut Pro+.
CoreValve Evolut transcatheter aortic valve implant (TAVI) products first received FDA approval in 2014. They rival Edwards Lifesciences’ (NYSE:EW) implants, which had the market to themselves for two years before the CoreValve products received the FDA nod.
Edwards and Medtronic reached a $750 million settlement over heart valve implant patents in 2014. Medtronic agreed to pay royalties through April 2022 of at least $40 million annually. Neither company admitted to any infringement as part of the settlement.
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