Medtronic and Tandem diabetes care enter into patent cross-license agreement

Medtronic plc (NYSE:MDT) and Tandem Diabetes Care, Inc. (NASDAQ:TNDM) today announced that they have entered into a non-exclusive patent cross-license agreement for certain technologies in the field of diabetes. Cross-licensing each other’s patent portfolios enables both companies to focus on helping people with diabetes through innovation of future products and services, while avoiding the distraction of potential legal disagreements.

With certain exclusions, this agreement applies to the companies’ existing products, as well as new products for at least the next five years, and also includes a provision not to clone one another’s products. No payments will be exchanged as part of this agreement and further terms were not disclosed. -BUSINESS WIRE