COMPANY BRIEFS

May 17, 1996

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HORIZON/CMS HEALTHCARE CORP., Albuquerque, N.M., which operates nursing homes and hospitals, said it would acquire Medical Innovations Inc., Houston, for about $29.5 million in cash. Though the transaction was originally announced in February, Horizon planned to acquire Medical Innovations, which provides home health care, for stock, but its shares have fallen 53 percent since then.

TIFFANY & CO., New York, the jewelry retailer, said its board had approved a 2-for-1 common stock split and a 43 percent increase in the quarterly cash dividend on a pre-split basis. Tiffany will split the stock and pay the dividends on July 23 for shareholders of record on June 28.

IONICS INC., Watertown, Mass., a maker of water purification and treatment equipment, agreed to acquire Sievers Instruments, Boulder, Colo., a maker of measurement devices for semiconductor and pharmaceutical manufacturing and other businesses, for about $21.7 million in stock.

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