General Surgical Innovations

Executive Summary

Manufacturer of tissue dissection systems for minimally invasive surgery reports Aug. 4 that it will be allowed to recover legal fees in connection with a patent infringement suit filed by Guidant subsidiary Origin Medsystems in San Jose, California federal court. Earlier, the court found that Origin had obtained the patent through misrepresentations, according to GSI. For the fourth quarter ended June 30, GSI reported revenues of $1.3 mil., down from $2.5 mil. in the fourth quarter of fiscal 1997, and a net loss of $3 mil. versus $971,000 a year ago. For the 12 months, revenues advanced 24% to $5.2 mil., and the company's net loss increased to $9.1 mil. from $1.9 mil. in 1997