ChromaVision Prepares ‘Poison-Pill’ Defense

ChromaVision Medical Systems Inc., a San Juan Capistrano maker of medical imaging systems, said Monday that it has adopted a so-called poison-pill plan, typically a move designed to fend off unwanted takeover bids.

Company officials said the move was precautionary and they are not aware of any actual threat. The shareholder-rights plan was adopted “to provide the board of directors with adequate time and a full opportunity to consider any and all alternatives in the event of such hostile action,” said Douglas S. Harrington, ChromaVision’s chief executive.

The plan gives each shareholder the right to double holdings of the company’s common stock when an outside entity acquires a stake of 15% or more in the company. That option would double the cost to the outside entity of acquiring control of the business.

ChromaVision shares closed unchanged at $7.63 Monday in moderate Nasdaq market trading.