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InnoMed Technologies
Files Motion to Include Cardinal Health in Lawsuit
July 16, 2009 08:45 AM Eastern Daylight Time
Following is a statement from InnoMed Technologies, Inc. to all Mergenet
Solutions, Inc. (“Mergenet”) and InnoMed Technologies, Inc. (“InnoMed”)
Shareholders:
COCONUT CREEK, Fla.--(BUSINESS
WIRE)--"As you have been aware, since 2002 we have been embroiled
in litigation with Kevin Harmon, a plaintiff, who has claimed, among other
things, that InnoMed had misappropriated the rights to, and was not a bona
fide purchaser of, the patents pertaining to the so-called Nasal Aire sleep
apnea device when InnoMed acquired such patents as part of an asset purchase
in April 2001. Specifically, the Harmon litigation claimed that InnoMed
participated with others in the conversion and fraudulent conveyance of the
patents. In addition Harmon requested an accounting and sought unjust
enrichment damages. On January 27, 2009, the Superior Court in Waycross,
Georgia, dismissed all of the Harmon claims in response to our motion for
summary judgment. Despite the fact that Harmon has appealed this decision,
we believe that InnoMed will again prevail on the appeal.
"In response to the Harmon litigation, we filed a counterclaim against
Harmon and Viasys Healthcare, Inc. (and its wholly-owned subsidiary), a
company with whom Harmon had entered into a series of agreements the effect
of which was to create a substantial cloud over the title and rights of
InnoMed to virtually all of its sleep patents and patent applications. The
initial purpose of the InnoMed counterclaim was to resolve the legal
conflicts relating to ownership of the patents, and seek redress against
these parties for the financial losses suffered due to the actions of the
counterdefendants.
"On June 13, 2009, InnoMed and Mergenet filed a motion with the Court
seeking to amend its counterclaim to add additional claims, and an
additional plaintiff, Mergenet, and an additional counterdefendant, Cardinal
Health, Inc. (NYSE:CAH), Viasys’ parent and a billion dollar publicly traded
corporation. As noted, Viasys allegedly was primarily responsible for the
funding of the ill-conceived Harmon litigation in exchange for a
royalty-bearing license in the InnoMed patents, had Harmon been successful
in his suit. The proposed amendment includes claims against all
counterdefendants for civil conspiracy, champerty and maintenance, fraud and
fraud in the inducement, slander of title and commercial disparagement to
its patents, tortious interference with business relationships, malicious
prosecution, and breach of contract.
"We believe Viasys and its affiliates have caused our companies irreparable
business harm and untold financial losses well into the millions of dollars.
Indeed, the lawsuit seeks $100 million in compensatory and $1 Billion in
punitive damages against all defendants. The complete motion to amend the
counterclaim can be viewed at our web site
www.innomedinc.com."
About Mergenet Solutions, Inc.
Mergenet Solutions Inc. (
www.mergenetsolutions.com ) targets strategic private entities with the
growth characteristics to benefit from its turnkey services and grooms them
for a future in the publicly-traded arena, either through IPO, reverse
merger or private placement. Its subsidiaries include:
InnoMed Technologies, Inc., a research-oriented, privately held, 21st
Century medical technologies company. The company, which competes with
companies such as Resmed (NYSE:RMD) and Respironics /Philips(NYSE:PHG) is
poised to bring new and more effective medical products and devices to the
public through a medical development and engineering team, as well as
acquisitions of other medical related companies. InnoMed Technologies, Inc.
holds numerous patents and has several patents pending.
Mergenet Medical, Inc. (MMI), a healthcare technology incubator formed in
2004 to identify, develop, finance and manage innovative products for the
medical market. Mergenet Medical is fortunate to begin with the advantages
of an existing marketing and distribution network through its business
association with other Mergenet Solutions Inc. (MSI) companies.
RespCare markets a line of therapeutic respiratory equipment for domestic
and international markets. RespCare's cost effective line of products are
designed to be a low-cost alternative in the demanding managed care
marketplace. RespCare has released the highly anticipated Hybrid mask,
details are available at
www.hybridmask.com.
Contacts:
Mergenet Solutions
Elena Hartmanis, 561-756-5551
pr@mergenetsolutions.com