Clearwater, Fla. NuMed Home Health Care has settled its months-long dispute with Turkey Vulture Fund, an investment group headed by shareholder Richard Osborne, officials said. All outstanding litigation between the two groups has been settled, they said. In January, a combined board of directors was elected. It includes Susan Carmichael, Thomas Chema, J. Michael Gorman, Richard Osborne, Thomas J. Smith and Jugal Taneja.

Last fall, Osborne pressured Jugal Taneja to resign as chief executive and chairman of NuMed, claiming mismanagement. Taneja stepped down as CEO, but remained a director. Unsatisfied, Osborne filed a proxy statement to solicit shareholders to approve five new directors, with himself as chair. NuMed sued the investment group, claiming that Osborne violated Securities and Exchange Commission rules by misrepresenting his intent.

Under the settlement, Osborne will withdraw his proxy statement and the investor group will enter an agreement to purchase Taneja's 744,680 shares of NuMed common stock for $350,000. Taneja had received the shares in connection with his resignation. In addition, the parties agreed to cease proxy fights through the year 2000.