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.
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.
July 19, 1997 |
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.
July 17, 1997 |
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.
June 13, 1997 |
An Orange County surgical devices maker 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. in Laguna Hills had won a jury verdict of more than $15 million and an unusual finding that U.S. Surgical had willfully violated Applied's patents. The finding gave the judge who presided over the case the option of trebling the damages.
December 18, 1996 |
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.