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Friday, June 28, 2002

Tristate Summary




J&J's Ethicon buys Swiss firm

        Johnson & Johnson, the biggest maker of medical devices, said it bought Obtech Medical AG of Switzerland to add a product used to treat extreme obesity.

        Terms were not disclosed. The acquisition was made through Johnson & Johnson's Blue Ash-based Ethicon Endo-Surgery, the company said.

        Obtech's Swedish Adjustable Gastric Band has been used in Europe since 1987. The inflatable band is fitted around the upper part of the stomach to restrict eating. Doctors can adjust the band's diameter by injecting or removing fluid, depending on how much weight a person needs to lose.
       

P&G licenses software system

        Procter & Gamble Co. said Thursday that it would license a technical specification management software to MatrixOne Inc. in Westford, Mass.

        Cincinnati-based P&G has saved hundreds of millions of dollars by using the system, which allowed it to create a single database of technical specifications.

Standard Register buys InSystems

        Standard Register Co., a printer of business forms, said it agreed to acquire InSystems Technologies Inc., a Toronto maker of software to help companies manage documents, for about $89 million in cash.

        Standard Register, based in Dayton, Ohio, expects the acquisition to close in 30 days, the company said. InSystems was founded in 1989 and has about $24 million in annual revenue and about 230 employees.

— From staff and wire reports

       



WorldCom clobbers state pension funds
WorldCom execs subpoenaed
Firstar is changing name, again
Peoples asks judge to release home liens
Economic recovery zooms, then stalls
Kmart's new boss thanks faithful
New scandal keeps heat turned up on Andersen
F&W to purchase Krause
Toyota's North American president returning to Japan
Business Digest
Industry notes: Manufacturing
- Tristate Summary
Morning Memo
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