Synthes, Globus call truce on trade secrets dispute
This article was originally published in Clinica
Swiss spinal implant developer Synthes, which has its US headquarters based in West Chester, Pennsylvania, is to gain $13.5m from rival Globus Medical to settle a row over the alledged theft of trade secrets as well as violations of non-compete and confidentiality agreements. Under the terms of the settlement, Audubon, Pennsylvania-based Globus, which continues to maintain it has not taken any trade secrets, also agreed to not solicit or hire Synthes employees for one year until August 10 2008. In return, Synthes has dropped all six lawsuits filed against Globus.