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Luther Medical Products Inc

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BUSINESS
December 9, 1998 | Barbara Marsh
New Jersey-based Becton Dickinson and Co. sweetened terms of its planned acquisition of Tustin-based Luther Medical Products Inc. to gain immediate access to technology for protecting health workers from needles. Luther announced Tuesday that, assuming the deal is completed in mid-January, shareholders can expect to receive $16.6 million in cash, or $4.70 a share, an increase of $325,000, or 8 cents a share.
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BUSINESS
January 16, 1992 | From Times Staff and Wire Reports
Luther Medical Negotiates Catheter Contract: Tustin-based Luther Medical Products Inc., which designs and manufactures specialized catheters, announced that it has entered negotiations with Pharmacia Deltec Inc. to develop and distribute two of its catheters. Luther said the contract is potentially worth $2 million over three years. The company said it expects a final agreement within 30 days.
BUSINESS
October 15, 1998 | From Times Wire Services
Luther Medical Products Inc., a Tustin-based manufacturer of catheter systems, said Wednesday it agreed to be acquired by New Jersey-based Becton Dickinson and Co., a maker of medical supplies, for about $16.3 million, or $4.62 a share. Luther's stock surged 36%, or $1.03 a share, to $3.91. Nearly 426,000 shares changed hands, more than 20 times the average daily volume over the last three months.
BUSINESS
April 6, 1994 | James M. Gomez / Times staff writer
FDA Approves Device: Luther Medical Products Inc., based in Tustin, has the inside track on a $50-million market, thanks to a decision by the U.S. Food and Drug Administration. The maker of medical catheters said on Tuesday that it has received FDA approval to begin selling its silicone catheter, Sil-Cath, a device that was invented several years ago by Ron Luther, the company's founder and chairman. The catheter is unique because it has a "peel-away" needle system.
BUSINESS
November 20, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
W. Tate Scott, president and chief operating officer of Luther Medical Products Inc., said Thursday that he will resign at year's end. Ron Luther, chairman and founder of the medical products company, said he will take over Scott's duties until a successor can be found. Luther Medical, based in Tustin, makes specialized catheter products, including needles used to insert the intravenous tubes that guard health workers against accidental pricks.
BUSINESS
June 14, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
Ron Luther's prized gift from close friends at his 60th birthday bash in April was a customized Monopoly game, dubbed Ronopoly. Each space marked a major event in Luther's life--his discharge from the Marines, his daughter's birth--and in his company--his first patent, his founding of Luther Medical Products Inc. All the spaces are filled, but Luther said his story hasn't ended. "We're going to have to get a new game," Luther said. "I'm not over yet."
BUSINESS
September 18, 1998
Luther Medical Products Inc.'s stock moved up 31.5% Thursday after the Tustin company reported that it narrowed its losses and increased its revenue for the year. Luther's shares rose 63 cents to $2.63. Earlier in the month, the stock had traded at a 52-week low of $1.31.
BUSINESS
August 21, 1998 | Dow Jones
Luther Medical Products Inc. said it has received approval from the Japanese Ministry of Health to sell its neonatal product range in Japan. The Tustin company's stock rose 16%, or 31 cents a share, to close at $2.19. Luther Medical, which designs and makes intravenous catheter systems, said it plans to deliver the first shipment of about 3,000 units to Japan in September.
BUSINESS
April 23, 1998
Luther Medical Products Inc.: The Tustin designer and manufacturer of catheter systems said it lost $41,833, or 1 cent a share, for the third fiscal quarter, contrasted with profit of $32,460, or 1 cent a share, for the comparable 1997 period. Revenue for the quarter ended March 31 declined 13% to $1.3 million from $1.5 million. For the nine months, the company narrowed its net loss to $381,923, or 12 cents a share, from a year-earlier net loss of $598,170, or 18 cents a share.
BUSINESS
October 5, 1997
Luther Medical Products Inc., which designs and manufactures catheter systems, reported a net loss of $730,026, or 23 cents a share, for the fiscal year ended June 30, compared with a net loss of $608,655, or 20 cents a share, for the prior year. Revenue increased 38% to $5.5 million from $4 million. For the fourth quarter, the company posted a net loss of $131,856, or 4 cents a share, compared with a year-earlier net loss of $222,079, or 7 cents a share. Revenue rose 23% to $1.
BUSINESS
August 27, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Luther Medical Products Inc. has eyes on Europe. The Tustin maker of intravenous catheters recently agreed to have San Diego-based Alaris Medical Inc. distribute its products in the European Economic Community and other international markets. David Rollo, Luther's president and chief executive, says he expects the European market for its products should equal that of its main U.S. market in five years. Its U.S. sales now run about $6.5 million a year, he says.
BUSINESS
July 17, 1997 | (Dow Jones)
Luther Medical Products Inc. said Wednesday that it expects to post fourth-quarter product sales of $1.5 million, up from $1.3 million a year ago. Luther said it expects to post product sales of $5.4 million for the year ended June 30, up from $3.9 million a year ago. Domestic Luther Medical brand product sales for the year are expected to be $3.9 million, up 86% from $2.1 million a year ago. For the fourth quarter, domestic sales are expected to rise 80%.
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