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Vimian reaches settlement agreement with one of the sellers in the indemnification process relating to the US patent dispute

MAR

Vimian Group AB (publ)’s subsidiaries, part of Vimian’s MedTech segment, have reached a settlement agreement with Dr. Brian Beale, one of the four sellers of Veterinary Orthopedic Implants, LLC (“VOI”). Dr. Beale has agreed to compensate Vimian for his entire pro rata share, which amounts to five per cent, of the USD 70 million settlement payment to DePuy Synthes, corresponding to a total value of USD 3.5 million.

Following the USD 70 million settlement with DePuy Synthes in the US patent dispute in April 2023, Vimian initiated the process to retrieve compensation from the sellers of Vimian’s subsidiary VOI as per the indemnification in the purchase agreement from the acquisition of VOI. Today, three of Vimian subsidiaries have reached a settlement agreement with Dr. Brian Beale, one of the four sellers of VOI, corresponding to his five per cent share of the USD 70 million settlement payment to DePuy Synthes.

The settlement agreement implies that Dr. Beale, in line with the indemnification clause set out in the purchase agreement for VOI, takes full responsibility for his share of the DePuy Synthes settlement. Vimian continues the legal process to retrieve compensation from the remaining sellers of VOI.

More background on the US patent dispute can be found in Vimian’s Annual Report for 2022.

For further information, please contact:

Maria Dahllöf Tullberg
Head of IR, Communications & Sustainability
maria.tullberg@vimian.com
+46 736 26 88 86

About Vimian

Vimian is a global animal health company covering four essential and rapidly evolving areas: Specialty Pharma, MedTech, Diagnostics, and Veterinary Services. At Vimian, we believe that every animal deserves the best available care. We bring pioneering and entrepreneurial businesses together to make the market’s most innovative offerings accessible to more animal health professionals and pet owners. Headquartered in Stockholm, Sweden, Vimian reaches over 15,000 veterinary clinics and 1,700 labs, sells to over 90 markets, has 1,000 employees and annual revenues of approximately EUR 330 million. For more information, please visit: www.vimian.com. FNCA Sweden AB is appointed the Company’s Certified Adviser.

This information is information that Vimian Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-26 21:50 CET.

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Vimian reaches settlement agreement with one of the sellers in the indemnification process relating to the US patent dispute

Datum 2024-02-26, kl 21:50
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Vimian reaches settlement agreement with one of the sellers in the indemnification process relating to the US patent dispute
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