UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
-----------------------------
Date of Report (Date of earliest event reported): September 30, 2005
Orthofix International N.V.
(Exact name of Registrant as specified in its charter)
Netherlands Antilles 0-19961 N/A
(State or other jurisdiction Commission File Number (I.R.S. Employer
of incorporation) Identification Number)
-----------------------------
7 Abraham de Veerstraat
Curacao
Netherlands Antilles N/A
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 011-59-99-465-8525
-----------------------------
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Section 8. Other Events.
------------
Item 8.01. Other Events.
Orthofix International N.V. (the "Company"), announced today that it has reached
an agreement to settle litigation between its subsidiary, Novamedix, and Kinetic
Concepts, Inc. The case was filed by Novamedix in 1992 and relates to its A-V
Impulse foot impulse line of products. Under the terms of the settlement, KCI
has agreed to pay Novamedix $75 million by September 30, 2005, and to give
Novamedix an option to receive either an assignment of or a license to certain
KCI foot pump patent rights. KCI will retain rights in the domestic and
international patents and will maintain its PlexiPulse product line going
forward. The settlement resolves and settles all claims between the parties
relating to this litigation.
The Company has contractual obligations to distribute a portion of the
settlement proceeds to certain former owners of Novamedix and the original
patents. Based upon preliminary estimates of these obligations and applicable
taxes, the Company expects to retain approximately 50% of the gross settlement
amount. The final settlement amount retained by the Company is subject to
adjustment based on the difference between its estimated and final contractual
obligations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ORTHOFIX INTERNATIONAL N.V.
By: /s/ Raymond C. Kolls
---------------------------------
Name: Raymond C. Kolls
Title: General Counsel and Corporate
Secretary
Date: September 30, 2005