September 7, 1993 |
Luther Medical Products Inc., the Tustin-based inventor of the so-called "stickless catheter," received an infusion of cash recently. The company said that Quintillion B.V., a Dutch investment group, has exercised an option to buy 300,000 shares of Luther Medical common stock for $735,000, said Luther Medical spokeswoman Rivian Bell. Quintillion now has an 11% stake in the catheter maker.
January 13, 1993
Luther Medical Products Inc., benefiting from brisk orders for its specialized catheters, said Tuesday that it reported a slight profit of $28,000 for its fiscal quarter ended Dec. 31. The medical firm's profit, equal to 1 cent a share, contrasts with a loss of $192,844, or 8 cents a share, for the same period a year earlier. Revenue increased to $1.1 million from $715,762 a year earlier.
November 20, 1992 |
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.
August 6, 1992 |
Luther Medical Products Inc. said Wednesday that royalties from Johnson & Johnson Co. for its stickless catheter may be in jeopardy after the New Jersey-based medical products giant signed a licensing agreement with another company to produce a stickless needle. Although no royalties to Luther Medical have been withheld, Luther Medical President W. Tate Scott said that his company was informed by Johnson & Johnson that a new agreement with British Technology Group Ltd.
June 14, 1992 |
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."
May 9, 1992
Luther Medical Products Inc. reported it lost $575,720, equal to 23 cents per share, in its third quarter ended March 31, compared to a $163,386 loss, or 8 cents per share, a year earlier. The company, which develops and markets a line of catheter products, had revenue of $562,811, up 3.2% from $545,343 a year before. The company said it wrote down the value of old inventory in the quarter. In addition, it spent $67,000 on legal fees in signing a partnership with Pharmacia Deltec of St.
April 17, 1992 |
Two competitors of Luther Medical Products Inc. have settled a 3-year-old patent lawsuit by agreeing to stop making and selling a medical device invented by Luther. Tustin-based Luther Medical had sued Gesco International of San Antonio and K-Tube Corp. of San Diego in federal court in San Diego for patent infringement. The companies now have agreed to quit marketing the product--a special needle used in medical catheters--by July 10.