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 MINNEAPOLIS (AP) - Medtronic Inc. ended a long-running patent fight on Friday by agreeing to pay $1.35 billion to a Los Angeles doctor who invented much of its spinal-treatment technology.
The settlement with Dr. Gary K. Michelson and his company, Karlin Technology Inc., calls for Medtronic to pay $800 million to buy spinal-fusion technology and $550 million to settle the legal claims.
"I am very happy," Michelson said of the settlement. "I am looking forward to working with Medtronic to see how many of the devices we can develop to help patients."
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