MEDICAL
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Two representatives of a Chicago investor group that tried unsuccessfully to acquire Trimedyne were ousted from Trimedyne’s board of directors at the Santa Ana firm’s annual shareholders meeting Wednesday.
Howard Cooper, president and chief executive officer of the laser catheter maker, said the shareholders “voted overwhelmingly” to approve a slate of directors nominated by Trimedyne Chairman Marvin Loeb.
The seven nominees included all of the company’s former directors except Fred Holubow and Thomas Polonsky. Holubow and Polonsky are members of the Irving B. Harris Group, which until recently was listed as Trimedyne’s largest shareholder. But in a recent filing with the Securities and Exchange Commission, the group said it was disbanding and giving up its collective bid to gain control of Trimedyne.
Elected to replace Holubow and Polonsky on the board of directors were Rick Randall, Trimedyne’s executive vice president of domestic sales, and Bruce Barron, a director and treasurer of several biomedical firms.
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