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Mcgaw Inc

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BUSINESS
January 28, 1993 | JAMES M. GOMEZ, TIMES STAFF WRITER
McGaw Inc., which received national attention last year when it became a campaign stop for Al Gore, announced Wednesday that it has filed with the Securities and Exchange Commission for an initial public offering of common stock. The company hopes to sell 11.3 million shares at a price between $10.50 and $12.50 apiece, spokesman Lawrence A. Watts said. Proceeds from the sale will go toward reducing the company's $180 million in debt, Watts said. "It really is an exciting thing," Watts said.
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BUSINESS
January 24, 1996 | LESLIE EARNEST, SPECIAL TO THE TIMES
An arbitration panel has ruled that McGaw Inc., a major hospital supply company, must pay $4.9 million to a small San Bernardino medical supplies distributor for breach of contract. The panel's recent ruling in favor of the San Bernardino company, Acacia Inc., was disclosed Tuesday by Acacia's attorney, Scott B. Campbell. The legal dispute between McGaw and Acacia stems from a contract allowing McGaw to use pumps made by Acacia to fill two of McGaw's drug infusion devices, according to Campbell.
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BUSINESS
September 28, 1992 | JAMES M. GOMEZ, TIMES STAFF WRITER
James M. Sweeney has been at the helm of Irvine-based McGaw Inc., a distributor and manufacturer of drug delivery products, since 1990. But his health care industry experience dates back to an after-school job he got in a hospital at 15. Sweeney, 50, is one of the founders of the modern home health care system. Sweeney talks with staff writer James M. Gomez about health care trends. His firm's Excel IV bag, an environmentally safe intravenous bag, received national attention when Sen.
BUSINESS
November 24, 1994
An Orange County Superior Court judge granted a stay Wednesday in a $8.5-million civil judgment involving the previous owner of an Irvine-based medical company whom a jury this week decided had violated a verbal contract with a former colleague. A jury ruled that James Sweeney, former chief executive officer of McGaw Inc., owed David Holder $8.5 million because the two agreed to buy McGaw. Sweeney and Holder met while both worked at Baxter Healthcare.
BUSINESS
November 24, 1994
An Orange County Superior Court judge granted a stay Wednesday in a $8.5-million civil judgment involving the previous owner of an Irvine-based medical company whom a jury this week decided had violated a verbal contract with a former colleague. A jury ruled that James Sweeney, former chief executive officer of McGaw Inc., owed David Holder $8.5 million because the two agreed to buy McGaw. Sweeney and Holder met while both worked at Baxter Healthcare.
BUSINESS
December 23, 1993 | JAMES M. GOMEZ, TIMES STAFF WRITER
McGaw Inc. has inked a four-year deal, valued at about $9 million, to provide intravenous solutions to a Dallas-based operator of 36 hospitals, the company announced Wednesday. The contract with EPIC Healthcare Group Inc. comes a week after the Department of Veterans Affairs gave McGaw approval to be the sole supplier of intravenous solutions to its VA hospitals for the next five years.
BUSINESS
June 15, 1991 | From Times Staff and Wire Reports
McGaw to Sell $25 Million in Goods: McGaw Inc., an Irvine-based provider of intravenous therapy products and services, announced that it has signed an agreement to sell $25 million worth of goods over the next five years to Critical Care America Inc. of Westborough, Mass. Critical Care America provides parenteral nutrition, antibiotic therapy, chemotherapy and pain management to patients in their homes. McGaw employs 2,700 people, most of them in Irvine.
BUSINESS
October 20, 1993 | From Times Staff and Wire Reports
$35-Million Contract: McGaw Inc. said Tuesday it signed a five-year contract that it said is worth $35 million in sales of intravenous drug solutions to home health-care provider Medical Care America. Medical Care America is the nation's largest outpatient surgery company and a leading provider of home IVs. Under the contract, Irvine-based McGaw will mix the drugs in the intravenous solutions and deliver them to the patients' homes.
BUSINESS
June 7, 1994
Ivax Corp. denied allegations of securities fraud contained in a lawsuit brought by the former chairman of McGaw Inc. Ivax, a Miami maker of generic drugs, said Friday that the lawsuit, filed Thursday in U.S. District Court in Santa Ana by former McGaw Chairman James M. Sweeney, is without merit. Both the corporation and Chairman Phillip Frost were named as defendants. "We intend to defend the suit vigorously," Ivax's general counsel, Armando A. Tabernilla, said in a statement.
BUSINESS
June 3, 1994
The former chairman of an Irvine medical products company filed a lawsuit Thursday in federal court against the Miami company that acquired it, accusing that company and its chairman of securities fraud, lawyers said. James M. Sweeney alleges in the lawsuit, filed in U.S. District Court in Santa Ana, that IVAX Corp. and Chairman Phillip Frost misrepresented their company's financial condition before it acquired McGaw, a maker of intravenous products, last March.
BUSINESS
March 29, 1994
Ivax Corp., a Miami company that makes chemical and generic drugs, has completed its acquisition of McGaw Inc. in a stock swap valued at about $440 million, the companies said Monday. McGaw shareholders will receive $16 worth of Ivax stock for each McGaw share. About half a share of Ivax common stock will be exchanged for each of McGaw's 27.4 million shares. Shares of McGaw, an Irvine-based intravenous-solution maker, stopped trading Friday. Ivax stock closed Monday at $27.375, down $1.
BUSINESS
February 8, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
McGaw Inc. said Monday that James Sweeney, who bought the firm in 1990 and arranged its pending sale to a Florida generic drug manufacturer, has resigned his post as chairman and chief executive officer. Sweeney, 52, who took the Irvine-based provider of intravenous products public last year, was replaced by McGaw President Norwick (Wick) Goodspeed "in anticipation of McGaw's merger," the company said. The resignation was effective immediately, said McGaw spokesman Lawrence Watts.
BUSINESS
January 7, 1994
McGaw Inc.'s stock soared 41.9% on the Nasdaq market Thursday, a day after the Irvine supplier of intravenous solutions, bags and pumps said it will be acquired by a Florida drug manufacturer. McGaw, which began selling stock publicly last February, announced Wednesday that it signed an agreement to become a wholly owned subsidiary of IVAX Corp. of Miami in a stock swap valued at $440 million. Accounting for an assumption of McGaw's $150 million in debt, IVAX would pay nearly $600 million.
BUSINESS
March 5, 1991
Irvine-based McGaw Inc. said that it has landed an estimated $50-million contract to sell intravenous solutions over the next five years to the Greater New York Hospital Assn. Services Inc. The hospital supply-purchasing group has a commitment from 24 hospitals to buy intravenous solutions, tubing and pumps from McGaw. The company earlier announced another contract of similar value. Together, the two deals will add about $20 million to McGaw's annual revenue, which was $230 million in 1990.
BUSINESS
January 6, 1994 | From Times Staff and Wire Reports
McGaw Inc. Agrees to Takeover: The company said it has agreed to be taken over by IVAX Inc., a Florida maker of generic drugs. The tentative acquisition is a stock-swap deal valued at $440 million. Company officials said McGaw had been searching for a drug manufacturer to buy it since last spring as changes in the nation's health care system were proposed.
BUSINESS
January 6, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
Continuing a trend of rapid consolidation in the health-care industry, McGaw Inc. said Wednesday it has agreed to be taken over by a Florida maker of generic drugs. The tentative acquisition by IVAX Corp. of Miami is valued at $440 million and would involve a stock swap in which original McGaw shareholders would double their investment. McGaw officials said the majority of stock in each company is owned by insiders, including board members who approved the deal.
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