Inamed Corporation Not a Party to Justice Department Lawsuit

Inamed Corporation Not a Party to Justice Department Lawsuit

Date: Mon, 3 Apr 2000 11:28:11 EDT

From: SusanS3733@aol.com

Inamed Corporation Not a Party to Justice Department Lawsuit Seeking Recovery of Medical Costs

SANTA BARBARA, Calif.--(BUSINESS WIRE)--April 3, 2000--Inamed Corporation (Nasdaq: <A HREF="aol://4785:IMDC">IMDC</A>) commented today on the recent lawsuit filed by the Justice Department against six other former manufacturers of silicone breast implants, which seeks to recover government-paid medical costs.

Ilan Reich, Inamed's president and co-CEO, stated: "We are not a defendant in that lawsuit because last year we resolved any potential liability through an amicable agreement with the Justice Department, as part of the overall class action settlement of Inamed's breast implant litigation. As part of Inamed's class-action settlement, Inamed obtained a settlement of all such claims

against it, paid the agreed amount in full and obtained a legal release of all such claims. Consequently, Inamed will not be involved in any way in the current litigation."

Inamed is a global surgical and medical device company engaged in the development, manufacturing and marketing of products for the plastic and reconstructive surgery, aesthetic medicine and obesity markets. Inamed sells a variety of lifestyle products used to make people look younger and more attractive, including breast implants for cosmetic augmentation and collagen-based facial implants to correct facial wrinkles and to improve lip definition.

Inamed also sells products that address women's health issues, including breast implants for reconstructive surgery following a mastectomy and devices that treat severe obesity and urinary incontinence.

BW0112 APR 03,2000




Go Back Home Go Forward