August 19, 1997 |
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.
August 6, 1997 |
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.
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.
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.
May 26, 1998 |
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.
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.
January 26, 2006 |
The Federal Circuit court of appeals in Washington upheld a $64.5-million judgment for patent infringement against Tyco International Ltd.'s U.S. Surgical Corp. unit. A law firm representing Applied Medical Resources Corp. of Rancho Santa Margarita said that the court affirmed a $43.5-million damages award, and said the $64.5 million included increased damages and attorney fees.
March 27, 1997 |
Imagyn Medical Inc. said Wednesday it has received clearance from the Food and Drug Administration to market its MicroLap Gold microlaparoscope for the diagnosis and treatment of pelvic pain, infertility and tubal ligation. Imagyn said it will begin shipments of MicroLap Gold to U.S. Surgical Corp. in the second quarter. Imagyn has an agreement for U.S. Surgical to distribute the MicroLap products.