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Urohealth Systems Inc

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BUSINESS
July 4, 1997 | (Times Staff and Wire Reports)
New Jersey-based Appaloosa Management L.P. and affiliates acquired nearly a 12% stake in Urohealth Systems Inc., a supplier of disposable surgical supplies. The investment partnership purchased 2.8 million shares of Urohealth, making Appaloosa one of the Newport Beach company's largest holders, according to a statement filed Thursday with the Securities and Exchange Commission. Most recently, Appaloosa, investment advisor to the Reliance Standard Life Insurance Co., purchased shares for $4.
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BUSINESS
September 30, 1997 | Barbara Marsh
Shareholders of Urohealth Systems Inc. and Imagyn Medical Inc. voted Monday to merge their companies, creating an entity called Imagyn Medical Technologies Inc., an official said. Urohealth's former management is now in charge of the new company. But Kenn McFarland, an executive at one of its subsidiaries, said all of Imagyn's 120 employees remained on the job except for its chief executive and its chief financial officer.
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BUSINESS
November 16, 1995 | BARBARA MARSH, TIMES STAFF WRITER
Urohealth Systems Inc. said Wednesday that recent acquisitions helped boost sales by 30% for the fiscal first quarter, but the company also posted higher losses. The Costa Mesa maker and marketer of treatments for impotence and incontinence posted sales of $6.2 million in the three months ended Sept. 30, up from $4.8 million in the same period last year. The company, previously named Davstar Industries Inc., posted a loss of $2.
BUSINESS
September 11, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Urohealth Systems Inc., a collection of medical device companies amassed by deal maker Charles A. Laverty, is facing mounting litigation by shareholders who claim the company misled them about its financial prospects. Seven lawsuits, filed in federal district court in Los Angeles and Orange County in the last three months, allege that the Newport Beach-based company engaged in securities fraud in the last year by exaggerating its financial results.
BUSINESS
February 6, 1997
Urohealth Systems Inc. said Wednesday it has signed an agreement to acquire X-Cardia Inc., a privately held medical device company in San Francisco, for an undisclosed amount of cash and stock. Urohealth Systems of Newport Beach designs and manufactures urological, gynecological and general surgery medical products.
BUSINESS
November 24, 1996
Medical devices maker Urohealth Systems Inc. said Friday it is switching its stock listing to the Nasdaq National Market from the American Stock Exchange. Urohealth shares are scheduled to begin trading on the Nasdaq market on Tuesday under the symbol UROH.
BUSINESS
November 14, 1996
Urohealth Systems Inc. said Wednesday that it has begun offering 2.5 million shares of common stock to the public at a price of $8 per share. Proceeds from the sale will be used to reduce debt and for general corporate purposes. Urohealth manufactures and markets urological and gynecological medical devices.
BUSINESS
August 1, 1996
Urohealth Systems Inc., which makes disposable and reusable medical products, said it has received federal conditional approval that will allow it to begin clinical trials for its RelaX product, a female urinary incontinence device. As part of the approval, the company said it will respond within 45 days to comments from the U.S. Food and Drug Administration.
BUSINESS
May 5, 1996
Urohealth Systems Inc., continuing its buying spree, has signed a letter of intent to acquire Intermed Inc., a New Jersey manufacturer and marketer of urological products, for $4 million. The acquisition of Intermed would be the eighth company that Urohealth has purchased in the last year. The Newport Beach-based company designs, manufactures and markets urological and general surgery products.
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 an unsolicited offer received earlier this week from giant U.S. Surgical Corp.
BUSINESS
July 4, 1997 | (Times Staff and Wire Reports)
New Jersey-based Appaloosa Management L.P. and affiliates acquired nearly a 12% stake in Urohealth Systems Inc., a supplier of disposable surgical supplies. The investment partnership purchased 2.8 million shares of Urohealth, making Appaloosa one of the Newport Beach company's largest holders, according to a statement filed Thursday with the Securities and Exchange Commission. Most recently, Appaloosa, investment advisor to the Reliance Standard Life Insurance Co., purchased shares for $4.
BUSINESS
July 3, 1997 | (Barbara Marsh)
Standard & Poor's said Wednesday that Urohealth Systems Inc.'s financial outlook for the next few years has weakened. The New York agency cited the biomedical company's disclosures this week of unexpectedly high losses for its past fiscal year and lower-than-expected sales for its first quarter. Standard & Poor's revised its rating on the medical device company's overall financial outlook to "stable" from "positive."
BUSINESS
July 2, 1997 | BARBARA MARSH, TIMES STAFF WRITER
After several delays, Urohealth Systems Inc. disclosed Tuesday that it lost $89 million in its last fiscal year, and surprised investors once again with disappointing sales projections for its first quarter this year. The stock, which was under siege last week over concerns about the company's finances, fell 98 cents a share, or more than 16%, to $5, a two-year low, in Nasdaq trading Tuesday. The stock has lost more than 37% of its value since June 23, when it closed at $8 a share.
BUSINESS
July 2, 1997 | BARBARA MARSH, TIMES STAFF WRITER
After several delays, Urohealth Systems Inc. disclosed Tuesday that it lost $89 million in its last fiscal year and surprised investors once again with disappointing sales projections for its first quarter this year. The stock, which was under siege last week on a variety of concerns over the company's finances, on Tuesday fell 98 cents a share, or more than 16%, to $5, a two-year low, in Nasdaq trading. The stock has lost more than 37% of its value since June 23 when it closed at $8 a share.
BUSINESS
February 27, 1996
International Remote Imaging Systems Inc., a Chatsworth maker of urinalysis workstations, has tentatively agreed to acquire a line of urinalysis products from UroHealth Systems Inc. The products include a urine centrifugal and microscopic examination system and a specimen collection cup. They will be sold by International Remote's StatSpin Technologies subsidiary, a maker of centrifuges and other small laboratory instruments, which it acquired earlier this month.
BUSINESS
July 1, 1997 | (Barbara Marsh)
Urohealth Systems Inc. on Monday again delayed the release of financial results for its fiscal year and promised analysts to discuss the results today in a conference call. The stock of the Newport Beach biomedical company rose 78 cents a share Monday to close at $5.98 a share in Nasdaq trading--its first advance after four consecutive days of declines last week.
BUSINESS
June 27, 1997 | From Times Staff and Wire Reports
Shares of Urohealth Systems Inc. plunged Thursday for the third consecutive day, slumping 16% on continued concerns over the company's latest earnings report. Urohealth, which makes medical supplies, said Wednesday that earnings for its fiscal year ended March 31 wouldn't meet analysts' expectations of 47 cents a share. Then on Thursday, the investment firm Bear Stearns & Co.
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