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BUSINESS
January 29, 2003 | From Bloomberg News
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.
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BUSINESS
June 8, 2007 | From the Associated Press
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.
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BUSINESS
December 19, 2006 | From the Associated Press
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.
BUSINESS
December 19, 2006 | From the Associated Press
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.
BUSINESS
May 26, 2005 | From Times Wire Services
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.
BUSINESS
June 8, 2007 | From the Associated Press
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.
BUSINESS
July 10, 2001
* 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.
BUSINESS
June 27, 2006 | From Bloomberg News
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.
BUSINESS
June 4, 2007 | Kathy M. Kristof, Times Staff Writer
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.
BUSINESS
September 28, 2007 | From Reuters
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.
BUSINESS
May 26, 2005 | From Times Wire Services
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.
BUSINESS
January 29, 2003 | From Bloomberg News
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.
BUSINESS
April 1, 2005 | From Associated Press
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.
NEWS
September 15, 2001 | From Associated Press
Hundreds of artificial hips are being recalled because one piece--the joint ball--is made of a ceramic that could crack. It's the second major recall of artificial hips in the last year. The Food and Drug Administration announced the recall Friday, warning surgeons not to use the affected implants. Patients were instructed to call their doctors if they experience symptoms suggesting the joint has cracked.
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