Date: Feb 20, 2009 Source:
February 20, 2009—CHELMSFORD, Mass.—ZOLL Medical Corporation (Nasdaq GS: ZOLL) announced today that it has signed an agreement with Alsius Corporation (Nasdaq: ALUS) under which ZOLL, through a wholly-owned subsidiary, will purchase from Alsius substantially all the assets constituting Alsius’s intravascular temperature management device business for a purchase price of twelve million dollars. The assets to be acquired include the intellectual property relating to the business, other intangibles, inventories and fixed assets. ZOLL will, as part of this agreement, assume warranty obligations relating to Alsius’s installed base of products. ZOLL plans to consolidate the operations of the acquired business at its facilities in Sunnyvale, California. The closing of the transaction is subject to the approval of Alsius shareholders and to other customary closing conditions.
Commenting on the agreement, Richard A. Packer, ZOLL’s Chairman and Chief Executive Officer, stated, “This agreement underscores ZOLL’s commitment to therapeutic temperature management. We believe that our acquisition of the hypothermia technology and products now being sold by Alsius, in combination with the technology and know-how previously acquired by ZOLL through its purchase of assets from Radiant Medical, Inc. in 2007, should make ZOLL a leader in the accurate, easy-to-use and cost-effective control of body temperature in critical care patients. We plan to continue to provide the Alsius line of products to the market to meet the ongoing needs of clinicians.”
About ZOLL Medical Corporation
ZOLL Medical Corporation is committed to developing technologies that help advance the practice of resuscitation. With products for pacing, defibrillation, circulation, ventilation, and fluid resuscitation, ZOLL provides a comprehensive set of technologies, including Real CPR Help® and See-Thru CPR®, that help clinicians, EMS professionals, and lay rescuers resuscitate sudden cardiac arrest or trauma victims. ZOLL also designs and markets software that automates the documentation and management of both clinical and non-clinical information.
ZOLL markets and sells its products in more than 140 countries. The Company has direct operations, distributor networks, and business partners throughout the U.S., Canada, Latin America, Europe, the Middle East and Africa, Asia, and Australia. During 2008 ZOLL marked the 25th anniversary of the company’s resuscitation product development. For more information, visit www.zoll.com.
Certain statements contained in this press release, including statements regarding the future business of the Company, and other statements contained herein regarding matters that are not historical facts, are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those factors discussed in the section entitled “Risk Factors” in the Company's Quarterly Report on Form 10-Q filed with the SEC on February 6, 2009. You should not place undue reliance on the forward-looking statements in this press release, and the Company disavows any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
Copyright © 2009 ZOLL Medical Corporation. All rights reserved. 269 Mill Road, Chelmsford, MA 01824-4105. ZOLL, AutoPulse, LifeBand, Real CPR Help, and See-Thru CPR are registered trademarks of ZOLL Medical Corporation. All product names are the property of their respective owners.
