VasoNova and C.R. Bard agree to settle a lawsuit accusing Bard and its ex-CTO of stealing trade secrets and breaching a confidentiality agreement.
A C.R. Bard (NYSE:BCR) subsidiary settled a lawsuit filed against it by VasoNova alleging that Bard and an ex-technology chief stole trade secrets to set up a new company.
VasoNova makes a system that uses Doppler ultrasound and intravascular ECG to help cardiologists place catheters in the heart. The Menlo Park, Calif.-based company sued Bard Access Systems and former chief technology officer Sorin Grunwald in May 2012, accusing them of stealing technology Grunwald developed at VasoNova and using the trade secrets to start Romedex International. That company later sold its VasoNova-competing Sapiens TLS device to Bard Access Systems.