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VOL. 124 | NO. 151 | Tuesday, August 4, 2009

Luminetx Competitor Agrees To License VeinViewer Patent

By Tom Wilemon

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Memphis-based Luminetx Corp. and Accuvein LLC of Cold Spring Harbor, N.Y., announced Monday that they have reached a settlement agreement on a patent dispute.

Accuvein has agreed to license the Luminetx technology that allows veins to be easily viewed underneath the skin, the companies said in a joint press release. Other terms of the agreement were confidential, the companies said.

Luminetx sued Accuvein last year after it announced it was launching a competing product. Luminetx began selling the VeinViewer in fall 2006. The product is used by nurses and other medical professionals to give shots and for other procedures.

“We’re pleased to put this case behind us,” said Chris Schnee, executive vice president of global marketing and international sales for Luminetx.

“It allows us to keep our focus on the customer and the selling of our signature product, the VeinViewer. The VeinViewer is truly a first-in-class product. It is one of a kind.

“Its continued acceptance within improved vascular access is a great testimony, and it’s also in the marketplace that we created. I think the settlement of the case indicates our willingness to defend our intellectual property whenever and wherever they are infringed.”

Herb Zeman, the founder of Luminetx and a retired professor from the University of Tennessee Health Science Center, invented the technology and was awarded a patent for VeinViewer in 1999.

The settlement comes just days after a July 30 court filing by lawyers for Accuvein disputing Luminetx’s patent assertions and technology descriptions.

Accuvein this year launched a smaller product that provides the same function as Luminetx’s VeinViewer. The company recently announced it had struck a five-year agreement with the U.S. General Service Administration to put its product in military, veteran, prison and other federally operated hospitals.

In a separate lawsuit, Luminetx is accusing Greg Candelmo, its former vice president of sales, and Roxane Bischofberger, its former director of clinical research, of allegedly taking trade secrets to Accuvein.

Luminetx made no comment as to whether the settlement with Accuvein would have any effect on the lawsuit against the former executives.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 74 74 17,458
MORTGAGES 93 93 20,128
FORECLOSURE NOTICES 0 0 2,645
BUILDING PERMITS 0 0 35,946
BANKRUPTCIES 57 57 11,221
BUSINESS LICENSES 32 32 5,741
UTILITY CONNECTIONS 0 0 6,715
MARRIAGE LICENSES 51 51 3,967