Synergetics has entered into a pair of agreements with Alcon Laboratories, granting Alcon a license to sell certain products manufactured by it for worldwide distribution on a co-exclusive basis throughout the extensive Alcon network and covering the terms of supply of such products to Alcon by Synergetics.
The agreements also settle all litigation between Synergetics and Alcon.
As provided by the settlement and license agreement and supply agreement, Alcon is expected to pay Synergetics approximately $32m for the right to sell certain Synergetics’ patented products worldwide and to settle all pending litigation between the companies. These agreements also provide for the resolution of any future disputes through a well-defined mediation process.
Robert Dick, chairman of the board at Synergetics, said: “We are pleased to be able to enter into a long term business relationship with Alcon, and settle all litigation between the companies.”
Synergetics is a supplier of precision microsurgery instrumentation. Synergetics’ primary focus is on the microsurgical disciplines of ophthalmology and neurosurgery.
Alcon develops, manufactures and markets surgical, pharmaceutical, and consumer vision care products.