NIDEK & VISX Complete Settlement Agreement; NIDEK Withdraws Subpoenas
GAMAGORI, JAPAN -- (INTERNET WIRE) -- 08-04-2003 --
NIDEK Co. Ltd. announced today that NIDEK and VISX have signed and completed the global litigation settlement and cross-license agreements announced earlier last week. The parties will file requests for dismissal of all outstanding lawsuits in the appropriate courts immediately.
In light of the signed settlement agreement and dismissal of the litigations, NIDEK has withdrawn the subpoenas issued to users of the VISX's systems in the latter part of 2002. Physicians who might have received a subpoena from NIDEK are relieved of all obligations to respond to the subpoena and need not produce the requested information.
"We are very pleased with the final settlement agreement now in place," stated Mr. Hideo Ozawa, President of Nidek Co., Ltd. "NIDEK wants to move forward in advancing and building the laser vision correction industry in the U.S. and worldwide," added Mr. Ozawa.
Under the formal and signed settlement agreement all other terms and conditions are confidential.
With worldwide operations headquartered in Gamagori, Japan, NIDEK develops, manufactures, and sells laser systems and diagnostic equipment for ophthalmology, optometry, general surgery, gynecology, and cosmetic dermatological surgery. The Company's ophthalmic and optometric products are specifically designed for diagnosing and treating retinal diseases, glaucoma, refractive therapies, retinopathy of prematurity, and pre and post-operative cataract surgery therapy. Its surgical products are designed to treat patients in the growing applications of cosmetic laser surgery and laser skin resurfacing. NIDEK distributes its products through a network of distribution partners and a direct sales force.
Contact: Kan Ohtsuki, Senior Manager, Legal and Regulatory Affairs Division
Voice: 81-533-67-8828
Fax: 81-533-67-6628
Email: kan_ohtsuki@nidek.co.jp
or
Contact: Kuntal Joshi, Director of Global Marketing
Voice: 800-223-9044
Fax: 510-226-5750
Email: kjoshi@att.net
