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DIAMETRICS MEDICAL, INC. ANSWERS PPG LAWSUIT AND FILES COUNTERCLAIM

 ST. PAUL, Minn., Aug. 24 /PRNewswire/ -- On Friday, Aug. 20, 1993, Diametrics Medical Inc.(TM) filed with the U.S. District Court in Minneapolis, its Joint Answer and Counterclaim to the complaint of PPG Industries, Inc. Diametrics asserts that "PPG's lawsuit is a sham" and that PPG has no basis


for claiming that any of the defendants has misappropriated PPG trade secrets, or that Diametric's IRMA System infringes on any of PPG's rights in any way.
 The company has also notified PPG of its counterclaim which alleges violation of U.S. and Minnesota antitrust laws, tortious interference, unfair competition and abuse of process. Diametrics is seeking to recover monetary damages to be determined at trial. The company is asking for "treble damages" under the Federal Sherman Act and Minnesota antitrust law. Both parties have agreed to an accelerated discovery process and an expedited trial to be held in early November 1993.
 PPG Industries, Inc., filed a lawsuit in the U.S. District Court in Minneapolis against Diametrics Medical and certain of its officers and employees on Aug. 10, 1993, two days before the company's initial public offering was expected to close. Diametrics Medical, after consultation with the underwriters for its proposed initial public offering, withdrew its offering of common stock to allow a thorough review of the lawsuit.
 Diametrics Medical, Inc., which began operating in 1990, is engaged in the development, manufacturing and marketing of a proprietary blood chemistry testing system that provides immediate diagnostic results at the patient point of care. The company's IRMATM (Immediate Response Mobile Analysis) System performs three of the most frequently ordered blood chemistry tests for critical care patients -- the measurement of oxygen, carbon dioxide and acidity (pH)(the "blood gases").
 -0- 8/24/93
 /CONTACT: Michael F. Connoy, chief executive officer; Walter L. Sembrowich, co-chairman of the board; or David W. Deetz, co-chairman of the board; all of Diametrics Medical, 612-639-8035/


CO: Diametrics Medical Inc.; PPG Industries, Inc. ST: Minnesota IN: MTC SU:

KH-DB -- MN018 -- 5530 08/24/93 15:14 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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