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Friday, Jun 14, 2024

Digest – Business Briefs

Titan Awarded $29 Million Contract

The Titan Corp. has been awarded a Navy design and development contract with a potential value of $29 million.

The contract, issued by the Navy’s Space and Naval Warfare (Spawar) Systems Center, is for research, design and development support for electromagnetic systems for the Navy and other government agencies.

The contract includes two one-year options. Work will be performed by Titan’s wholly owned defense information subsidiary Eldyne in San Diego and is expected to be completed by February 2005.

MarDx Acquired By Dublin Biotech

Trinity Biotech plc of Dublin, Ireland, has acquired MarDx Diagnostics Inc., a privately held manufacturer of test kits for the diagnosis of Lyme disease company in Carlsbad for $4 million.

MarDx employs 58 people in R & D;, manufacturing and marketing. Trinity Biotech develops, manufactures and markets diagnostic products for the point-of-care, self-testing, and clinical laboratory segments of the diagnostic market.

Trinity plans to locate its marketing and sales staff for North and South America at the MarDx facility.

Equidyne, Nypro Sign Production Agreement

Equidyne Corp. has signed a multi-year exclusive supply contract with Nypro Inc. to provide large commercial molds and automated assembly systems for production of Equidyne’s needle-less drug delivery system.

Under the terms of the agreement Equidyne will pay $3.2 million for Nypro to build the molds and assembly systems necessary to begin supplying the U.S. market with Equidyne’s disposable drug delivery ampule beginning in July 2000.

The assembly system with be based at Nypro’s San Diego facility. Equidyne Corp. is parent company to San Diego-based Equidyne Systems, Inc., which designs needle-free drug delivery systems.

Creative Host Buying Portland Coffee Company

San Diego’s Creative Host Services, Inc. has signed a letter of intent to acquire all of the assets of Caffe Diva Group, Ltd., a drive-up-coffee company located in Portland, Ore.

Caffe Diva Group, Ltd.’s sales in the drive-up coffee industry have grown from $6 million annualized in June 1999, to a present annualized run rate of about $20 million.

Creative Host Services owns and operates airport concessions throughout the United States. Terms of the pending acquisition were not released.

Qualcomm, Eastman Working on Digital Movies

Eastman Kodak Co. and San Diego’s Qualcomm Inc. are collaborating on the testing of core technologies for the creation of a high-quality digital cinema system.

Qualcomm’s compression, encryption and watermarking techniques will be key technologies incorporated into a prototype digital projection system that Kodak is developing.

Kodak is leading an industrywide effort to create a digital cinema system at its Imaging Technology Center in Hollywood.

TomaHawk II Awarded $1.1 Million Contract

TomaHawk II, Inc. has received two new orders for document conversion services for the Department of the Navy valued at approximately $1.1 million.

The new orders provide funding for document conversion projects for the Naval Air Systems Command.

Major Insurance Firm Chooses HNC Software

HNC Insurance Solutions, a division of HNC Software Inc. of San Diego that’s based in Irvine, has been chosen by Nationwide Mutual Insurance of Columbus, Ohio, to provide software services.

HNC Insurance Solutions will provide software to review more than 1 million auto accident medical claims annually, said Earl Malit, president of HNC Insurance Solutions.

Nationwide Mutual Insurance is the fifth largest auto insurance carrier in the nation. It will use HNC Insurance Solutions’ Autoadvisor software in bill review and managed care services for its auto claims case load, Malit said.


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