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Solos Endoscopy Inc

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BUSINESS
October 8, 1991 | SONNI EFRON, TIMES STAFF WRITER
Aiming to bolster its position in the competitive market for less-invasive medical devices, Birtcher Medical Systems Inc. said Monday that it will merge with Solos Endoscopy Inc., a 19-month-old company based in Duluth, Ga. If shareholders approve the deal, which is valued at $44 million, the expanded Birtcher would have more than $50 million in annual sales.
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BUSINESS
June 28, 1994 | ANNE MICHAUD, TIMES STAFF WRITER
Birtcher Medical Systems, which in May hired a turnaround specialist as its chief executive officer, said Monday that it has raised $1.6 million from investors and from the sale of one of its money-losing product lines. That means Birtcher, which makes surgical products, is about 20% of the way through its restructuring, said Kenneth C. Cleveland, CEO and president. The company, based in Irvine, said it sold 961,667 shares of common stock for about $900,000.
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BUSINESS
April 10, 1992 | MICHAEL FLAGG, TIMES STAFF WRITER
J. Michael Egan, executive vice president at Birtcher Medical Systems Inc., has resigned "for personal reasons," says the maker of surgical instruments. Egan was in charge of making sure a new company Birtcher had bought--Solos Endoscopy Inc.--fit in smoothly. But apparently it didn't; two weeks ago Birtcher said its earnings this quarter would be at least 40% lower than it had anticipated because it was taking so long to sort out the two company's sales forces. Now Birtcher President William E.
BUSINESS
April 10, 1992 | MICHAEL FLAGG, TIMES STAFF WRITER
J. Michael Egan, executive vice president at Birtcher Medical Systems Inc., has resigned "for personal reasons," says the maker of surgical instruments. Egan was in charge of making sure a new company Birtcher had bought--Solos Endoscopy Inc.--fit in smoothly. But apparently it didn't; two weeks ago Birtcher said its earnings this quarter would be at least 40% lower than it had anticipated because it was taking so long to sort out the two company's sales forces. Now Birtcher President William E.
BUSINESS
June 28, 1994 | ANNE MICHAUD, TIMES STAFF WRITER
Birtcher Medical Systems, which in May hired a turnaround specialist as its chief executive officer, said Monday that it has raised $1.6 million from investors and from the sale of one of its money-losing product lines. That means Birtcher, which makes surgical products, is about 20% of the way through its restructuring, said Kenneth C. Cleveland, CEO and president. The company, based in Irvine, said it sold 961,667 shares of common stock for about $900,000.
BUSINESS
March 24, 1992 | ANNE MICHAUD, SPECIAL TO THE TIMES
Birtcher Medical Systems Inc. has announced that its third-quarter earnings will be at least 40% lower than anticipated. Birtcher's stock, traded over the counter, fell $1 on the news to close at $12.75 a share the day after the announcement and was unchanged Monday. The company blamed a shortfall in sales, which was a result of an unexpectedly long restructuring of its sales force after the acquisition of Georgia-based Solos Endoscopy Inc.
BUSINESS
January 27, 1993 | TED JOHNSON, SPECIAL TO THE TIMES
Birtcher Medical Systems Inc., pinched by industry sluggishness, fierce competition and a backlog in Food and Drug Administration applications, said it posted an $892,000 loss, equal to 10 cents per share, in its fiscal second quarter ended Dec. 31. The Irvine-based company, which makes equipment for outpatient surgery procedures, warned of the red ink earlier this month, surprising analysts who had expected earnings of 8 cents per share. The results compare with a $2.
BUSINESS
February 26, 1993 | JAMES M. GOMEZ, TIMES STAFF WRITER
Birtcher Medical Systems Inc., a manufacturer of electronic surgical devices, said Thursday that it has joined forces with two medical supply companies, partly to offset losses it has incurred since a rocky acquisition in 1991. The announcement, which came nine days after Birtcher reported that it was buying a former adversary in development of a state-of-the-art surgical tool, is another sign that Birtcher is taking positive steps to solve its financial problems, analysts said.
BUSINESS
January 6, 1993 | JAMES M. GOMEZ, TIMES STAFF WRITER
A warning that Birtcher Medical Systems Inc. expects a loss for its latest quarter drove the company's stock down 16% in heavy trading. Birtcher, which makes surgical equipment for "minimally invasive," or outpatient surgery procedures, blamed industry slowdowns, a difficult acquisition 14 months ago, strong competition and a backlog of yet-to-be approved applications at the Food and Drug Administration for its second-quarter losses.
BUSINESS
May 18, 1994 | JAMES M. GOMEZ, TIMES STAFF WRITER
Birtcher Medical Systems Inc., a medical device manufacturer buffeted by two years of losses, has hired a corporate trouble-shooter as its new chief executive. Kenneth C. Cleveland, president of Kenneth Cleveland Associates Inc., an Irvine-based management consulting firm, became Birtcher's CEO and president on Monday, the company said. He will remain as president of the consulting company. At Birtcher, he succeeds William E.
BUSINESS
October 8, 1991 | SONNI EFRON, TIMES STAFF WRITER
Aiming to bolster its position in the competitive market for less-invasive medical devices, Birtcher Medical Systems Inc. said Monday that it will merge with Solos Endoscopy Inc., a 19-month-old company based in Duluth, Ga. If shareholders approve the deal, which is valued at $44 million, the expanded Birtcher would have more than $50 million in annual sales.
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