November 11, 1998 |
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.
October 19, 1997 |
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.
June 6, 1996 |
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.
November 26, 1997 |
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.
June 17, 1997 |
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.
July 2, 1998 |
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.