Biomet Inc

Interpore International Inc., a medical device company based in Irvine, has been sued by a rival firm for allegedly stealing technology used in spinal implant surgery. Biomet Inc., a maker of artificial hips, knees and other joints, filed the lawsuit this month in federal court in South Bend, Ind. The company claims that Interpore hired a Biomet researcher and patented an invention he developed while working at Biomet to make the implants lighter and stronger.

An improved offer to buy Biomet Inc. may provide enough incentive to seal a deal initially rejected by a major shareholder and a couple of shareholder advisory firms. The maker of orthopedic products announced Thursday that a private equity consortium had increased its bid by 4.5% to $11.4 billion. The new offer is for $46 a share, up from $44 a share. The consortium includes Biomet founder and former Chief Executive Dane A.

Orthopedic device maker Biomet Inc. agreed to be acquired by a private investment group for $10.9 billion in cash. The consortium offered $44 a share, 27% more than Biomet's closing price on April 3, the last trading day before the company indicated it was looking for a buyer. After the offer was announced Monday, Biomet shares fell 41 cents, or 1%, to close at $41.59. In June, Warsaw, Ind.

Orthopedic device maker Biomet Inc. agreed to be acquired by a private investment group for $10.9 billion in cash. The consortium offered $44 a share, 27% more than Biomet's closing price on April 3, the last trading day before the company indicated it was looking for a buyer. After the offer was announced Monday, Biomet shares fell 41 cents, or 1%, to close at $41.59. In June, Warsaw, Ind.

Medical device maker Medtronic Inc. said Wednesday that a California judge had barred the company from selling a redesigned product that is the subject of a patent lawsuit filed by Biomet Inc. Medtronic said it would appeal the injunction, which was issued Tuesday and takes effect Aug. 22.

An improved offer to buy Biomet Inc. may provide enough incentive to seal a deal initially rejected by a major shareholder and a couple of shareholder advisory firms. The maker of orthopedic products announced Thursday that a private equity consortium had increased its bid by 4.5% to $11.4 billion. The new offer is for $46 a share, up from $44 a share. The consortium includes Biomet founder and former Chief Executive Dane A.

* Silicon Graphics Inc., whose computer workstations are used to create movie effects, announced the resignation of Chief Financial Officer Hal Covert and said it expects a loss of $70 million to $80 million for the fiscal fourth quarter. The company, which did not provide a per-share profit estimate, said bookings for the coming fiscal year are disappointing. Covert, who joined the company in July 2000, will be replaced as CFO by Controller Jeffrey Zellmer. * WestPoint Stevens Inc.

A Newport Beach-based commercial insurance brokerage is being sold to Blackstone Group for $1.1 billion in cash and stock, the companies announced Sunday. The deal is the latest in the voracious private equity firm's series of big acquisitions. Alliant Insurance Services, which is now owned by private equity firm Lindsay Goldberg & Bessemer of New York, will maintain its current management, employees and headquarters, spokesman Mike Simmons said.

Shares of Zimmer Holdings Inc., Stryker Corp. and Biomet Inc. plunged Monday as the companies, makers of artificial hips and knees, disclosed a federal investigation of the $7-billion-a-year orthopedic industry. The Justice Department's antitrust division demanded records back to 2001 on how Biomet, Stryker and Zimmer make and sell orthopedic devices, the companies said in separate statements.

Four medical device implant makers will pay about $310 million and agree to federal monitoring and other reforms to settle a government probe into improper consulting contracts with surgeons, prosecutors said Thursday. Zimmer Holdings, Johnson & Johnson unit DePuy Orthopaedics Inc., Smith & Nephew and Biomet Inc. will pay civil settlements and avoid criminal prosecution by agreeing to reforms, said U.S. Atty. Christopher Christie in New Jersey. A fifth company, Stryker Corp.

Medical device maker Medtronic Inc. said Wednesday that a California judge had barred the company from selling a redesigned product that is the subject of a patent lawsuit filed by Biomet Inc. Medtronic said it would appeal the injunction, which was issued Tuesday and takes effect Aug. 22.

Interpore International Inc., a medical device company based in Irvine, has been sued by a rival firm for allegedly stealing technology used in spinal implant surgery. Biomet Inc., a maker of artificial hips, knees and other joints, filed the lawsuit this month in federal court in South Bend, Ind. The company claims that Interpore hired a Biomet researcher and patented an invention he developed while working at Biomet to make the implants lighter and stronger.

In what they called a medical first in a toddler, surgeons at Stanford University's Lucile Packard Children's Hospital have implanted a telescoping artificial prosthesis in the arm of a 3-year-old to replace a humerus that was removed because of cancer. Nearly a year later, Mark Blinder is thriving and cancer-free. Mark, now 4, developed pain in his right arm in April of last year. By July, oncologists had diagnosed Ewing's sarcoma, a rare bone tumor. Chemotherapy reduced the pain but did not eradicate the tumor.

A probe by the Department of Justice into makers of orthopedic devices has produced only a handful of subpoenas so far but has raised concerns about the relationship between the companies and the doctors who consult for them. Orthopedic device companies frequently pay physicians for feedback on products and to help them design new ones.