Minimed Inc

MiniMed Inc., a Sylmar company that makes portable insulin pumps for people with diabetes, said its profit for the third quarter that ended Sept. 30 was $703,000, up 71% from $410,000 last year. Sales for the third quarter were up 12% to $11 million from $9.8 million in the third quarter last year. For the first nine months of this year, the company's profit was $352,000 compared to a loss of $1.03 million last year. Year-to-date sales were up 21% to $30.

A Dallas tax advisor was sued by regulators who say he used confidential information from MiniMed Inc.'s former chief executive to buy shares in the Northridge company shortly before its acquisition by Medtronic Inc. was announced in 2001. The Securities and Exchange Commission said Thursday that Gary M. Kornman, 61, bought 6,600 MiniMed shares for about $38 apiece in early 2001 after he learned from the CEO that there was a "70% chance" the diabetes-products maker would be bought.

MiniMed Inc., a maker of products used to treat diabetes, said fourth-quarter profit fell below its previous forecast because the company sold fewer insulin pumps than expected. Shares of Northridge-based MiniMed fell 7.6% to a 52-week low of $30.50 in after-hours trading. Before the announcement, made after the markets had closed, the shares had fallen $3.50 to $33 on Nasdaq. MiniMed said it expects to report earnings of 17 cents a share on sales of about $92 million.

Moving its aggressive acquisition campaign into the field of diabetes management, Medtronic Inc., the world's biggest medical device maker, agreed to buy Northridge-based MiniMed Inc. and an affiliated company for $3.7 billion, the companies said Wednesday. As part of the deal, MiniMed's founder, Alfred E. Mann, will step down as chairman and chief executive to devote attention to his other medical start-ups. If approved by shareholders and regulators, the $3.

Moving its aggressive acquisition campaign into the field of diabetes management, Medtronic Inc., the world's biggest medical device maker, agreed to buy Northridge-based MiniMed Inc. and an affiliated company for $3.7 billion, the companies said Wednesday. As part of the deal, MiniMed's founder, Alfred E. Mann, will step down as chairman and chief executive to devote attention to his other medical start-ups. If approved by shareholders and regulators, the $3.

MiniMed Inc. of Northridge has invested in DMCare Inc., a privately held company headquartered in Colorado Springs, Colo. The companies have entered into a strategic development agreement. DMCare offers automated doses support services for diabetes patients and operates a Web-based education and intervention service for diabetes patients and health care providers. MiniMed designs and develops drug and compound infusion systems for the treatment of diabetes and other medical conditions.

MiniMed Inc. completed its purchase of a Florida medical supplies distributor for $14.2 million in stock. Earlier this month, MiniMed bought Home Medical Supply Inc., which operates a distribution business in 30 states. Home Medical sells various diabetes treatment products, MiniMed's chief line of business, and also operates a mail order pharmacy in Florida and Georgia. MiniMed said the acquisition would result in a fourth-quarter, one-time charge of $1 million to $1.5 million.

Nearly half of CSUN's North Campus would be turned into a biotech research park in coming years under an agreement that is expected to win the tentative approval of university administrators today. CSUN executives who are developing the 65-acre portion of the campus are expected to endorse the terms of a 40-year lease with Sylmar-based MiniMed Inc., or one of its affiliates, said Art Elbert, a member of the North Campus--University Park Development Corp. board of directors.

MiniMed Inc. in Sylmar reported net income for the first quarter ended March 31 of $6.2 million, a 65% increase over net income of $3.8 million for the same period in 1999. Revenue rose 47% to $60.3 million compared with $40.9 million. MiniMed Inc. designs, develops and manufactures advanced infusion systems primarily for the management of diabetes.

* Sylmar-based MiniMed Inc., which makes advanced diabetes treatment systems, said second-quarter net income rose 80% to $2.7 million, or 20 cents per diluted share, compared with $1.5 million or 11 cents, a year ago.

It took him more than a year of wrangling with city officials, but Alfred Mann, one of the wealthiest businessmen in the San Fernando Valley, finally got the green light Wednesday to buy a hunk of land in Sylmar for a new biomedical plant. Councilman Alex Padilla had blocked the project for months, insisting that Mann meet several conditions--including setting up an internship program for Mission College students--before the lawmaker agreed to support it.

MiniMed Inc. of Northridge has invested in DMCare Inc., a privately held company headquartered in Colorado Springs, Colo. The companies have entered into a strategic development agreement. DMCare offers automated doses support services for diabetes patients and operates a Web-based education and intervention service for diabetes patients and health care providers. MiniMed designs and develops drug and compound infusion systems for the treatment of diabetes and other medical conditions.

MiniMed Inc. of Northridge reported net income of $18.8 million for the fourth quarter that ended Dec. 29, a 153% increase over net income of $7.4 million for the same period the previous year. Revenue rose 30% to $92.5 million over $70.9 million. For last year, net income increased 97.1% to $43.2 million, compared with $21.9 million in 1999. Revenue grew 39% to $294.4 million from $212.3 million. MiniMed designs, develops, manufactures and markets infusion systems used in medical treatment.

MiniMed Inc., the leading maker of insulin pumps used by diabetics, reported higher fourth-quarter earnings Wednesday but said results in the current quarter would fall short of Wall Street forecasts as the company prepares to launch new products. Fourth-quarter net income was $18.8 million, or 28 cents a share, including long-term capital gains of $10.7 million. A year ago, net income was $7.4 million, or 11 cents. Revenue rose 30% to $92.5 million.

A new $70-million biotech complex on the campus of Cal State Northridge will allow insulin pump maker MiniMed Inc. to nearly triple production capacity, the company's president said Thursday. Following grand opening ceremonies for MiniMed's new world headquarters, Terry Gregg, president and chief operating officer of the company, said that the former headquarters in Sylmar could produce, at most, 70 insulin pumps a day.

Rising near the corner of Devonshire Street and Zelzah Avenue is biotech entrepreneur Alfred Mann's $70-million work of heart--a sleek, glass-covered complex that will serve as world headquarters for MiniMed Inc. This afternoon, a host of political, educational and medical-community dignitaries will mark the unveiling of the command center for the company, a leader in the development of insulin pumps used to treat diabetes.

MiniMed Inc. has struck a joint marketing agreement with Boehringer Mannheim Corp., a large German medical company. Under the agreement, MiniMed and Boehringer will jointly market both firms' diabetes-care products in the U.S. MiniMed, based in Sylmar, manufactures various infusions systems used in diabetes care.

Northridge-based MiniMed Inc. said it expects U.S. sales of insulin pumps to increase 35% this quarter and the introduction of a new pump system to spur a "significant uptick" in growth this year. Its shares rose $3.50 to close at $36.50 on Nasdaq.

Northridge-based MiniMed Inc. said it expects U.S. sales of insulin pumps to increase 35% this quarter and the introduction of a new pump system to spur a "significant uptick" in growth this year. Its shares rose $3.50 to close at $36.50 on Nasdaq.

MiniMed Inc., a maker of products used to treat diabetes, said fourth-quarter profit fell below its previous forecast because the company sold fewer insulin pumps than expected. Shares of Northridge-based MiniMed fell 7.6% to a 52-week low of $30.50 in after-hours trading. Before the announcement, made after the markets had closed, the shares had fallen $3.50 to $33 on Nasdaq. MiniMed said it expects to report earnings of 17 cents a share on sales of about $92 million.