Syneron Medical and Candela Corporation (collectively Syneron-Candela), a global aesthetic device company and the exclusive licensee of certain patents of General Hospital Corporation, d/b/a Massachusetts General Hospital (MGH), and Lutronic, Cor and Lutronic Aesthetics (collectively Lutronic), an aesthetic and medical laser company, announced that they have entered into a mutually agreeable comprehensive settlement agreement ending the patent disputes between the companies.
Terms of the settlement agreement are not disclosed.
The mutually agreed upon settlement, limited to Lutronic, protects Candela’s investment in Profound and its patented long pulse and temperature-controlled technology today and in the future.
The settlement, through a sublicense from Syneron-Candela, allows Lutronic to market its product in the short pulse category, protecting Candela’s investment in the development of products in the long pulse category with a thermocouple. Candela’s Profound system is the only FDA-cleared, real-time temperature-controlled device that delivers long pulses of Radio Frequency energy to create all three skin fundamentals – collagen, elastin and hyaluronic acid.
Geoffrey Crouse, Chief Executive Officer of Syneron-Candela, commented, “Syneron-Candela is focused on science, results and trust. We invest heavily in Research and Development and will continue to enforce our intellectual property rights to prohibit manufacturers from developing and marketing products in violation of these rights. We are pleased to have reached a settlement with Lutronic on mutually-agreeable terms.”
Haelyung Hwang, Chief Executive Officer of Lutronic, commented, “We are pleased to reach a mutually beneficial settlement and cross-license agreement that strategically ends the patent disputes between Lutronic and Syneron-Candela. The settlement allows us to focus our full attention and resources on executing our growth strategy to transform the aesthetic market where we will continue to develop and protect state-of-the art technology to meet the needs of our customers.”
Founded in 1997 and listed in the Korean Securities Dealers Automated Quotations (KOSDAQ) since 2006, Lutronic Corp. is South Korea’s pioneering aesthetic laser medical device company.
Candela is a leading global aesthetic device company with an extensive product portfolio and expansive global commercial footprint.
Source: Company Press Release