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BUSINESS
October 18, 2000 | From Times Staff and Bloomberg News
Sunrise Medical Inc., a maker of crutches, wheelchairs and other medical devices, agreed Tuesday to be acquired by an investor group that includes Chief Executive Michael Hammes and other senior managers in a transaction that values the Carlsbad-based company at about $224.4 million. The acquisition deal marks the latest chapter in Sunrise's saga to turn itself around.
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BUSINESS
October 18, 2000 | From Times Staff and Bloomberg News
Sunrise Medical Inc., a maker of crutches, wheelchairs and other medical devices, agreed Tuesday to be acquired by an investor group that includes Chief Executive Michael Hammes and other senior managers in a transaction that values the Carlsbad-based company at about $224.4 million. The acquisition deal marks the latest chapter in Sunrise's saga to turn itself around.
BUSINESS
October 6, 1999 | SHARON BERNSTEIN, TIMES STAFF WRITER
The founder and chairman of Sunrise Medical Inc., a Carlsbad maker of crutches, wheelchairs and other medical devices, resigned Tuesday in an effort to allow the troubled company to start fresh after years of scandal and decreasing profit. Richard H.
BUSINESS
January 31, 1997 | From Bloomberg News
Sunrise Medical Inc. said it fired 170 employees and will fire 80 more as it consolidates its five North American home care divisions into a single unit. The maker of hospital, home care and rehabilitation products also released fiscal second-quarter earnings that failed to meet analysts' expectations. The company said it will incur $4 million in costs over the next six quarters to complete the consolidation.
BUSINESS
January 5, 1996 | From Bloomberg Business News
Sunrise Medical Inc. shares fell 12% on Thursday after the medical equipment maker said it will restate earnings and fire about 250 employees because of falsely inflated earnings at its Bio Clinic unit. The Carlsbad, Calif.-based company also said Bio Clinic is being investigated by the Securities and Exchange Commission and that several executives have left. It plans to take a fiscal second-quarter charge to cover costs associated with the unit. Sunrise shares fell $2.375 to $16.
BUSINESS
October 6, 1999 | SHARON BERNSTEIN, TIMES STAFF WRITER
The founder and chairman of Sunrise Medical Inc., a Carlsbad maker of crutches, wheelchairs and other medical devices, resigned Tuesday in an effort to allow the troubled company to start fresh after years of scandal and decreasing profit. Richard H.
BUSINESS
August 24, 1992 | TOM PETRUNO
Big businesses usually grow from simple concepts, so Richard H. Chandler keeps his corporate credo to six words: "Products go down in price forever." As chairman of Torrance-based Sunrise Medical Inc., Chandler has built a $235-million medical-goods company in nine years by slashing costs, raising quality and investing heavily in the development of new products that ease the lives of disabled and older people.
BUSINESS
March 2, 1995 | Times Staff and Wire Reports
Steelworkers ratified a new 47-month contract with Kaiser Aluminum Corp., ending a nine-day strike that had idled 3,000 union members at five plants in Washington, Louisiana and Ohio. . . . Carlsbad, Calif.-based Sunrise Medical Inc. said it has agreed to acquire the Corona Group, a Tours, France-based maker of health care beds, for about $40 million.
BUSINESS
June 18, 1999 | Bloomberg News
Meanwhile, Sunrise Medical Inc., a Carlsbad-based medical-products maker, said fiscal fourth-quarter earnings will be "substantially" below analyst estimates because of product-pricing and Medicare-reimbursement problems. Earnings before charges for the quarter ending July 2 will be lower than the 12 cents-a-share average estimate of analysts. Sunrise also said it will increase the number of employees fired under a previously announced cost-reduction program to 600 from 375.
BUSINESS
February 25, 1999 | Bloomberg News
Sunrise Medical Inc., a medical products maker based in Carlsbad, Calif., agreed to settle Securities and Exchange Commission charges that it filed financial statements inflating its earnings by 16% for 1994 and by 40% for 1995. The SEC also charged five former employees and consultants, including a Sunrise unit's former chief financial officer, Robert S. Barton, with participating in an effort to manipulate financial reports. The five individuals also settled the charges, the agency said.
BUSINESS
July 3, 1998 | Bloomberg News
Sunrise Medical Inc. said it will cut 300 jobs, or 7% of its work force, and report losses for the fourth quarter and full year because of higher reorganization costs and weak sales. The Carlsbad-based maker of electric wheelchairs and other equipment for the disabled said it expects little if any rise in fourth-quarter sales from the third quarter's $160.4 million. It blamed weak sales of respiratory equipment, as well as declining sales in Britain.
BUSINESS
January 31, 1997 | From Bloomberg News
Sunrise Medical Inc. said it fired 170 employees and will fire 80 more as it consolidates its five North American home care divisions into a single unit. The maker of hospital, home care and rehabilitation products also released fiscal second-quarter earnings that failed to meet analysts' expectations. The company said it will incur $4 million in costs over the next six quarters to complete the consolidation.
BUSINESS
January 31, 1997
Sunrise Medical Inc. said it will consolidate its five North American home-care divisions into one unit, to be based in Boulder, Colo., and will eliminate 80 jobs. The Carlsbad maker of hospital and home-care products said consolidation of the units, which account for 40% of its total revenue, will cost about $4 million over the next six quarters. Sunrise also reported weak second-quarter earnings of $2.45 million, or 13 cents a share, compared with a loss of $24.1 million, or $1.28, a year
BUSINESS
February 25, 1999 | Bloomberg News
Sunrise Medical Inc., a medical products maker based in Carlsbad, Calif., agreed to settle Securities and Exchange Commission charges that it filed financial statements inflating its earnings by 16% for 1994 and by 40% for 1995. The SEC also charged five former employees and consultants, including a Sunrise unit's former chief financial officer, Robert S. Barton, with participating in an effort to manipulate financial reports. The five individuals also settled the charges, the agency said.
BUSINESS
January 31, 1997
Sunrise Medical Inc. said it will consolidate its five North American home-care divisions into one unit, to be based in Boulder, Colo., and will eliminate 80 jobs. The Carlsbad maker of hospital and home-care products said consolidation of the units, which account for 40% of its total revenue, will cost about $4 million over the next six quarters. Sunrise also reported weak second-quarter earnings of $2.45 million, or 13 cents a share, compared with a loss of $24.1 million, or $1.28, a year
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