Update re St Jude

RNS Number : 1344P

AorTech International PLC

19 October 2012

 

AorTech International plc ("AorTech")

Update

Yesterday St. Jude Medical's subsidiary, Pacesetter, Inc., filed a request for an injunction and for a temporary restraining order to prevent AorTech from terminating its contract with Pacesetter, Inc.  In its Application Pacesetter alleged it has "suffered immediate and irreparable harm as a result of AorTech's threatened repudiation and termination of [Pacesetter's] supply of Licensed Products . . ."  Pacesetter seeks to enjoin and immediately restrain AorTech from exercising its termination rights it has asserted and to preserve the status quo in the relationship between the parties in order to prevent further alleged irreparable injury.  AorTech will vigorously resist Pacesetter's application.

Enquiries:

AorTech International plc

Bill Brown, Chairman

Tel: [phone]

finnCap

Stuart Andrews/Rose Herbert
finnCap as Nominated Adviser
Tel: [phone]

 

END

 

 

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