Trimedyne Settles Lawsuit Against Bard

Trimedyne Inc. announced settled its lawsuit against C.R. Bard Inc. The net proceeds to Trimedyne, after legal fees and costs, is expected to be approximately $6.5 million. Bard has agreed to pay the full amount by Nov. 30, 1998.

Marvin P. Loeb, chairman of Trimedyne, said, "Settling this matter before the trial will save considerable cost and management time. It will also enable us to concentrate on expanding our present business, complete the Heart Revascularization system being developed by our subsidiary, Cardiodyne Inc., and allow us to continue the development of other new laser devices for use in urology, cosmetic surgery, gynecology, and neurosurgery."