Pall Corporation has signed an Asset Purchase Agreement with Whatman HemaSure, Inc., a wholly owned subsidiary of Whatman plc. The parties further agreed to settle all disputes between the companies concerning Pall's patents for leukodepleting filters and systems and the Whatman HemaSure LeukoNet and r\LS series of filters. This $5,950,000 transaction is expected to close in January 2003.
The parties were involved in ongoing litigation in New York and Colorado, with Pall asserting infringement of claims from a number of its patents. Under the terms of Stipulations, to be filed in the New York and Colorado cases, Whatman has acknowledged the validity and enforceability of the asserted claims of those Pall patents. In the same Stipulations, Pall has consented to dismiss all patent-related claims against the Whatman companies in both the New York and Colorado cases.
Eric Krasnoff, chairman and CEO of Pall Corporation, said, "Pall and Whatman have agreed to work together in the best interests of the blood banking community to ensure an orderly market transition. This purchase is not expected to affect our earnings for the year."