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BUSINESS
November 25, 1997
Santa Barbara-based Circon Corp. returned Chief Executive Richard Auhll to the board and reappointed him chairman, prompting U.S. Surgical Corp., which is seeking to take over the medical device maker, to go back to court to seek his removal from the board.
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BUSINESS
November 11, 1998 | Bloomberg News
Circon Corp. agreed to ease anti-takeover provisions and consider being acquired, bowing to shareholders upset by the surgical-products maker's rejection of a bid from U.S. Surgical Corp. Santa Barbara-based Circon said it will consider new proposals and invited discussions from companies it negotiated with earlier. Norwalk, Conn.-based U.S. Surgical withdrew its $230-million offer Sept. 15 after agreeing to be bought by Tyco International Ltd.
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BUSINESS
December 18, 1996 | Times Staff and Wire Reports
Unocal Corp. and Miami-based independent Forcenergy Inc. have allied to explore and develop oil and gas pockets in Alaska's Cook Inlet, the companies said. . . . Orange-based Vans Inc. said earnings for its second quarter ended Nov. 30 rose 89.4% to $2.4 million, or 18 cents per share, from $1.3 million, or 13 cents, in the year-ago quarter. . . . Santa Barbara-based Circon Corp. said its board recommended that shareholders reject U.S. Surgical Corp.'s reduced $221-million acquisition bid.
BUSINESS
July 2, 1998 | BARBARA MARSH, TIMES STAFF WRITER
A federal appeals court this week upheld a $20.5-million award to a Laguna Hills maker of surgical devices in a patent-infringement case against industry giant U.S. Surgical Corp. The ruling will enable Applied Medical Resources Corp. to press ahead with plans to go public within months and other expansion activities, said an elated chief executive, Said Hilal. "The most heartwarming thing in my life is seeing the justice system work so elegantly.
BUSINESS
November 11, 1998 | Bloomberg News
Circon Corp. agreed to ease anti-takeover provisions and consider being acquired, bowing to shareholders upset by the surgical-products maker's rejection of a bid from U.S. Surgical Corp. Santa Barbara-based Circon said it will consider new proposals and invited discussions from companies it negotiated with earlier. Norwalk, Conn.-based U.S. Surgical withdrew its $230-million offer Sept. 15 after agreeing to be bought by Tyco International Ltd.
BUSINESS
October 19, 1997 | Dow Jones
Imagyn Medical Technologies Inc. said it has filed a patent infringement suit against U.S. Surgical Corp. In the complaint, Newport Beach-based Imagyn alleges that U.S. Surgical's ABBI breast biopsy device infringes on two patents held by Imagyn. Imagyn is seeking an injunction to stop the manufacture and sale of ABBI in the U.S., as well as damages and attorneys' fees. A spokesman for Connecticut-based U.S. Surgical said his company has not been served and can't comment on specifics.
BUSINESS
June 6, 1996 | Times Staff and Wire Reports
Firm Is Sent FDA Warning on Breast Surgery Device: U.S. Surgical Corp. is improperly peddling a new device for taking tissue samples as a breast cancer surgery instrument that would minimize pain and scarring, government regulators have charged. The Food and Drug Administration sent a warning letter to the company this week, ordering it to stop advertising the device as the Advanced Breast Biopsy Instrumentation system, or ABBI. U.S. Surgical, based in Norwalk, Conn.
BUSINESS
November 26, 1997 | (Bloomberg News)
A federal judge has transferred Imagyn Medical Technologies' patent infringement lawsuit against U.S. Surgical Corp. from Virginia to U.S. Surgical's home state of Connecticut. U.S. District Judge James C. Cacheris in Alexandria, Va., ruled that trying the case in a state where neither party has significant operations "would be a great inconvenience to everyone involved," U.S. Surgical said. U.S. Surgical is based in Norwalk, Conn.
BUSINESS
June 17, 1997 | Reuters
U.S. Surgical Corp. said it is lowering its offer for Circon Corp. in an effort to secure a friendly merger agreement, but it said it is willing to pursue its hostile takeover bid for the company that makes medical endoscopes. Norwalk, Conn.-based U.S. Surgical said it is now offering $14.50 a share in cash, or about $14 million, for 14.9% of Circon stock, the amount it can buy without triggering the anti-takeover "poison pill" that was set up by Santa Barbara-based Circon after U.S.
BUSINESS
July 2, 1998 | BARBARA MARSH, TIMES STAFF WRITER
A federal appeals court this week upheld a $20.5-million award to a Laguna Hills maker of surgical devices in a patent-infringement case against industry giant U.S. Surgical Corp. The ruling will enable Applied Medical Resources Corp. to press ahead with plans to go public within months and other expansion activities, said an elated chief executive, Said Hilal. "The most heartwarming thing in my life is seeing the justice system work so elegantly.
BUSINESS
May 26, 1998 | From Associated Press
Tyco International Ltd. plans to buy U.S. Surgical Corp. for $3.3 billion in a bid to enable the companies to compete more effectively against much bigger rivals and boost their business of supplying medical products to hospitals. U.S. Surgical, which primarily makes products for closing surgical wounds and performing minimally invasive surgery, would operate as a unit of Tyco's disposable and specialty medical products group. U.S.
BUSINESS
November 26, 1997 | (Bloomberg News)
A federal judge has transferred Imagyn Medical Technologies' patent infringement lawsuit against U.S. Surgical Corp. from Virginia to U.S. Surgical's home state of Connecticut. U.S. District Judge James C. Cacheris in Alexandria, Va., ruled that trying the case in a state where neither party has significant operations "would be a great inconvenience to everyone involved," U.S. Surgical said. U.S. Surgical is based in Norwalk, Conn.
BUSINESS
November 25, 1997
Santa Barbara-based Circon Corp. returned Chief Executive Richard Auhll to the board and reappointed him chairman, prompting U.S. Surgical Corp., which is seeking to take over the medical device maker, to go back to court to seek his removal from the board.
BUSINESS
October 19, 1997 | Dow Jones
Imagyn Medical Technologies Inc. said it has filed a patent infringement suit against U.S. Surgical Corp. In the complaint, Newport Beach-based Imagyn alleges that U.S. Surgical's ABBI breast biopsy device infringes on two patents held by Imagyn. Imagyn is seeking an injunction to stop the manufacture and sale of ABBI in the U.S., as well as damages and attorneys' fees. A spokesman for Connecticut-based U.S. Surgical said his company has not been served and can't comment on specifics.
BUSINESS
August 19, 1997 | Bloomberg News
Santa Barbara-based Circon Corp. said it rejected U.S. Surgical Corp.'s fourth bid, calling the $16.50-a-share, or $235-million, offer for the maker of surgical devices too low. U.S. Surgical first offered to buy Circon in August 1996 for $18 a share, a bid that was lowered to $17 and then $16.33. Circon rejected each offer. U.S. Surgical filed a lawsuit against Circon on Aug. 13 to let shareholders vote on the offer. Circon's board asked shareholders not to respond to U.S. Surgical's Aug.
BUSINESS
August 6, 1997 | (Reuters)
U.S. Surgical Corp. said it has begun another hostile tender offer to acquire the rest of Santa Barbara-based Circon Corp., a maker of devices for minimally invasive surgery that it has been pursuing for a year. The offer, which values Circon at about $218 million, is for $16.50 a share. Norwalk, Conn.-based U.S. Surgical also makes products meant to lower the cost of surgery and other medical treatments. It already owns 14.8% of Circon. U.S.
BUSINESS
June 13, 1997 | (James S. Granelli)
An Orange County maker of surgical devices has won $20.5 million against industry giant U.S. Surgical Corp. in a patent-infringement case involving abdominal tubes used for less-invasive operations. Privately held Applied Medical Resources Corp. of Laguna Hills had won a jury verdict of more than $15 million and an unusual finding that U.S. Surgical had willfully violated its patents. The finding gave the judge who presided over the case the option of trebling the damages.
BUSINESS
July 19, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Urohealth Systems Inc. on Friday sweetened by 35% its deal to buy Imagyn Medical Inc. for stock, and the boards of the two Orange County medical device companies endorsed the revised terms. Imagyn, a Laguna Niguel company whose low stock price and innovative instruments for gynecological surgery make it an attractive target, also said it rejected the unsolicited offer received earlier this week from giant U.S. Surgical Corp. The Norwalk, Conn.-based company said it won't increase its offer.
BUSINESS
July 17, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Imagyn Medical Inc., the medical devices firm set to be acquired by Costa Mesa-based Urohealth Inc., received a higher offer Wednesday from giant U.S. Surgical Corp. Imagyn, which makes devices for minimally invasive surgery, said it's calling a meeting of its board to consider the $57.5-million offer--a cash or stock deal about 20% higher than Urohealth's all-stock bid.
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