It was the beginning month of the year 2013, and Fred Khosravi, the chairperson of the board of AccessClosure Inc., contemplated what awaited in the novel year for him and AccessClosure, the company he established in last phase of 2002. Khosravi was carefully upbeat-the Mountain View, California-based medical device firm had been cash flow positive for seven consecutive quarters with yearly sales over $70 million. Since 2007, it had shipped well over 1.5 million of its vascular closure device (VCD), the Mynx, which was stocked in more than 1,200 catheter labs worldwide.
Nonetheless, a 2008 patent infringement suit filed by St. Jude Medical, the VCD market leader, loomed large. The case was on appeal, along with a three-judge panel would hear arguments in March 2013. If AccessClosure lost its appeal, it encountered a $27.1 million judgment for patent violation and a permanent injunction from selling its Mynx family of VCDs, its sole source of earnings.
PUBLICATION DATE: October 05, 2013 PRODUCT #: 814038-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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