Advanced Interventional Chief Quits as Merger Nears

IRVINE —  Robert E. Wall, chairman and chief executive of medical laser marker Advanced Interventional Systems Inc., resigned Thursday in advance of a merger that apparently would have eliminated his job. Wall, 64, has been chairman of the company since 1987. He told directors that he planned to begin his retirement.

Richard B. Crosby, Advanced Interventional Systems’ chief financial officer, has been appointed interim president, chief executive officer and director pending completion of a previously announced merger with Spectranetics Corp. of Colorado.

Spectranetics President Robert DePasqua will serve as president and chief executive officer of the combined company once the merger is completed, while David Goldsmith, a director of Advanced Interventional Systems, will be chairman.

Real Estate Loans Rise: Orange County bucked a Southern California trend last year by posting a small gain in real estate lending.

Dataquick Information Systems in La Jolla said Friday that $30.8 billion in real estate loans were made in the county last year, up 1.7% from 1992’s $30.3 billion.

Overall, Southern California real estate lending was down 1.8% for the year. For the state as a whole, lending was up 3.8%.

The $274 billion loaned statewide last year set a record and was “good news for the economy,” said Dataquick, “as during the past few months we’ve seen more and more buyers come into the market.”