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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Surgical-Tools Division Sold by Imagyn Medical

November 21, 2000|Bloomberg News

Imagyn Medical Technologies Inc. in Irvine sold its disposable surgical instruments unit in Kalamazoo, Mich., to ConMed Corp., a maker of surgical tools, for $6 million and an additional $2 million if sales goals are met within a year.

ConMed, which will make the products at its headquarters in Utica, N.Y., said Monday the purchase doubles its sales of tools used in laparoscopic surgery.

Imagyn sold $6.5 million of the instruments used in minimally invasive abdominal surgery in the last year.

ConMed, which has 2,400 employees, said the acquisition of the Imagyn unit will "modestly" increase 2001 earnings and won't affect fourth-quarter earnings, said Robert D. Shallish, chief financial officer.

ConMed shares fell 19 cents to $15.19 in Nasdaq.

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