Acutus Medical (AFIB) has released an update to notify the public and investors about a termination of a material definitive agreement.
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Acutus Medical, Inc. has been embroiled in a legal dispute with Biotronik over the termination of their distribution agreements relating to Acutus’s AcQBlate Force Ablation Catheters and other products. Biotronik has canceled the agreements citing Acutus’s failure to meet contractual obligations and is seeking damages. Despite these claims, Acutus denies any wrongdoing and is prepared to defend its position and seek legal recourse if necessary, signaling a potential legal battle ahead for the companies involved.
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For a comprehensive understanding of the announcement, you can read the full document here.