Fisher & Paykel Healthcare has settled all global patent infringement litigation with its US-based competitor ResMed.
One of the breathing masks built by F&P Healthcare to treat obstructive sleep apnea. Photo: Supplied / F & P Healthcare
The companies, which manufacture a range of competing products for respiratory and acute care, have been engaged in legal battles in the US, New Zealand, Australia and Europe, over the past three years, costing millions of dollars on both sides.
In a joint statement the companies said the confidential settlement involved no payment or admission of liability by either side.
"Under the agreement, all ongoing infringement proceedings against named products will be dismissed, and each party will bear its own attorney fees and costs incurred in the global proceedings."
Fisher & Paykel said the settlement will not have a material impact on its net profit for the 2019 financial year, ending in March.
"We are pleased to bring these disputes to a close and we appreciate the support of our customers and shareholders throughout the process," Fisher & Paykel Healthcare chief executive Lewis Gradon said.
The settlement is effective immediately, and both companies have begun requesting the withdrawal of the pending cases.