Originally created 12/21/96

Business briefs - parent company of Osbon Medial Systems reaches distribution agreement



Distribution agreement reached

NEWPORT BEACH, Calif. - UROHEALTH Systems Inc., parent company of Augusta-based Osbon Medical Systems, announced this week that it has entered into an exclusive U.S. distribution agreement for a new impotence diagnostic tool - the Knoll/MIDUS system - developed by UroMetrics Inc.

The system uses a patented transducer design that allows physicians for the first time to accurately measure penile blood flow. The product has federal Food and Drug Administration clearance.

UroMetrics is a privately held medical device company specializing in ultrasonics. UROHEALTH's stock is traded on the Nasdaq Stock Market.Shareholders approve mergerST. LOUIS - Shareholders of Boatmen's Bancshare Inc. and NationsBank Corp. of Charlotte, N.C., approved the $9.6 billion merger between the two companies, creating the country's fourth-largest bank.

The deal, expected to be completed in early January, will create a banking company with abut $220 billion in assets and branches in 16 states and the District of Columbia.

The Federal Reserve Board approved the merger Dec. 16.

The combination will dramatically expand NationsBank's presence in the Midwest, expanding its retail banking operations into Arkansas, Oklahoma, Kansas, Iowa, Illinois, and New Mexico. The bank already has a major presence in the Southeast.

Teamsters vote challenged

WASHINGTON - House Judiciary Committee leaders asked Attorney General Janet Reno on Friday to look into allegations of irregularities in the federally monitored vote for the presidency of the Teamsters union.

The committee chairman, Rep. Henry Hyde, R-Ill., and Rep. John Conyers, of Michigan, the panel's ranking Democrat, asked Ms. Reno to respond to allegations made by challenger James P. Hoffa.

Teamsters President Ron Carey declared victory Dec. 14, but the election's federal overseer must finish counting challenged ballots before the results of the mail-in election can be certified.{ Mr. Hoffa alleges there is a discrepancy between the number of ballots returned and the number of votes counted. The election officer, Barbara Zack Quindel, says the post office overestimated the number of returns.