Healthcare Industry News: Neurostimulation
News Release - August 15, 2007
LifeSync Corporation Agrees to Sublicense Patent Portfolio to Medtronic
FORT LAUDERDALE, Fla., Aug. 15 (HSMN NewsFeed) -- LifeSync Corporation, a wholly owned subsidiary of GMP Companies, Inc., announced it has entered into a non-exclusive sublicense with Medtronic, Inc. (NYSE: MDT ) for LifeSync's patent portfolio associated with the digital, wireless communication of patient vital signs.This sublicense will allow Medtronic the right to utilize Lifesync's technologies in connection with implantable medical devices for cardiac pacing, defibrillation or resynchronization, Neurostimulation, gastrostimulation and urological stimulation. Other applications may include implantable or external sensing devices and infusion systems used in connection with or for diagnosis of the diseases associated with such therapies.
"We are delighted to enter into this sublicense with Medtronic," said Shelley Hartman, President and CEO of LifeSync Corporation. "Medtronic is clearly an innovator in the development of wireless implantable therapies designed to improve patients' lives."
LifeSync has developed and commercialized a wireless ECG data communication system for use in medical facilities based upon patents licensed exclusively from Motorola Inc. LifeSync intends to grant sublicenses for this intellectual property to third parties for uses that LifeSync does not intend to internally develop and commercialize.
Source: LifeSync
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