ZURICH, Switzerland, Nov. 18--PRNewswire/FirstCall/AsiaNet
Centerpulse Ltd.(NYSE: CEP, Swiss Stock Market: CEPN) announced today that it has closed the sale of Vascutek Ltd. to Terumo Corporation of Japan. On November 7, 2002, Centerpulse also announced the closing of the sale of IntraTherapeutics, Inc. to ev3 Inc., a portfolio company of private equity firms Warburg Pincus LLC and The Vertical Group. The closing of these transactions represents Centerpulse's successful exit from the vascular devices market.
Centerpulse had previously announced the sale of Vascutek for USD 170 million on October 4, 2002, and the sale of IntraTherapeutics for USD 95 million on September 3, 2002. The proceeds from the two divestitures will be used to redeem parts of the credit facility, which Centerpulse used to finance the Class Action Settlement. The sale process for Centerpulse's Cardiac Division continues to proceed according to plan, and is expected to close by year end or early next year.
Centerpulse's subsidiaries develop, produce, and distribute medical implants and biological materials for cardiovascular and orthopaedic markets worldwide. As part of the company's efforts to refocus strategic emphasis on the core sectors of orthopaedic, spine and dental implants, current efforts to divest the cardiovascular business continue to be pursued.
SAFE HARBOR STATEMENTS UNDER THE U.S. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
This report may contain forward-looking statements including, but not limited to, projections of future performance of materials and products, financial conditions, results of operations and cash flows, containing risks and uncertainties. These statements are subject to change based on known risks detailed from time to time in the Company's Securities and Exchange Commission filings and other known and unknown risks and various other factors which could cause the actual results or performance to differ materially from the statement made herein.
Centerpulse's media releases are available on the internet at: www.centerpulse.com
SOURCE Centerpulse Ltd.
/CONTACT: Media, Beatrice Tschanz, +41-1-306-96-46, fax, +41-1-306-96-51, mobile, +41-79-407-08-78, or [email protected] or Erwin Schaerer, +41-1-306-96-53, mobile, +41-79-407-12-25, [email protected], or Investors, Suha Demokan, +41-1-306-98-25, fax +41-1-306-98-31, mobile, +41-79-430-81-46, or [email protected], or Marc Ostermann, +41-1-306-98-24, or [email protected], all of Centerpulse Corporate Communications /
/Web Site: http://www.centerpulse.com /
(CEP)
--Distributed by AsiaNet (www.asianetnews.net)--
Centerpulse Ltd.(NYSE: CEP, Swiss Stock Market: CEPN) announced today that it has closed the sale of Vascutek Ltd. to Terumo Corporation of Japan. On November 7, 2002, Centerpulse also announced the closing of the sale of IntraTherapeutics, Inc. to ev3 Inc., a portfolio company of private equity firms Warburg Pincus LLC and The Vertical Group. The closing of these transactions represents Centerpulse's successful exit from the vascular devices market. Centerpulse had previously announced the sale