Birtcher Medical Shareholders OK Merger; 100 Will Lose Jobs
- Share via
IRVINE — Shareholders of Birtcher Medical Systems Inc., a maker of electrosurgical products, approved a merger Tuesday with a Utica, N.Y., company that will result in layoffs of more than 100 of the Irvine company’s 120 employees.
Birtcher said recently that the merger with a subsidiary of Conmed Corp., a manufacturer of electrosurgery, heart-monitoring and other medical products, would result in the layoffs, which include 83 workers at the company’s headquarters. Birtcher’s main office will be closed.
Shareholders will receive one-twelfth of a share of Conmed common stock for each share of Birtcher common stock and half a Conmed share for each share of Birtcher preferred stock. Birtcher stock ceased trading Tuesday, closing at $1.50 a share, while Conmed closed at $18.50, unchanged from Monday’s close on the Nasdaq market system.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.