Stryker announces the success of the simplified tender offer for outstanding shares of VEXIM
December 11 2017 - 3:00PM
Kalamazoo, Michigan - December 11, 2017 - Stryker
Corporation (NYSE:SYK) announced that the simplified public tender
offer for the shares and BSAAR warrants of VEXIM, a French medical
device company listed on the Euronext Growth stock exchange in
France, has closed. VEXIM, headquartered in Balma, France,
specializes in the development and sale of vertebral compression
fracture (VCF) solutions.
The public tender offer was opened from November
16, 2017 to December 6, 2017. The results were published
today by the French financial market authority (Autorité des marchés financiers, the "AMF").
Stryker, which already owned over 50% of the share capital and
voting rights of VEXIM at the date of the filing of the public
tender offer with the AMF, acquired an additional 4,036,406 shares
during the offer period, as well as 226,520 BSAAR warrants that it
has exercised for new shares of VEXIM. Stryker now holds 8,416,399
shares of VEXIM representing 92.19 % of its share capital and at
least 91.56% of its voting rights.
Stryker is satisfied of this result and would like
to thank all the shareholders and BSAAR warrant holders who
tendered their securities into the Offer. Stryker is excited
about the strength of VEXIM's differentiated product portfolio,
management team, and European presence with Stryker's fast growing
Neurotechnology and Spine businesses.
Forward-looking
statements
This press release contains information that
includes or is based on forward-looking statements within the
meaning of the federal securities law that are subject to various
risks and uncertainties that could cause our actual results to
differ materially from those expressed or implied in such
statements. Such factors include, but are not limited to: weakening
of economic conditions that could adversely affect the level of
demand for our products; pricing pressures generally, including
cost-containment measures that could adversely affect the price of
or demand for our products; changes in foreign exchange markets;
legislative and regulatory actions; unanticipated issues arising in
connection with clinical studies and otherwise that affect U.S.
Food and Drug Administration approval of new products; potential
supply disruptions; changes in reimbursement levels from
third-party payors; a significant increase in product liability
claims; the ultimate total cost with respect to the Rejuvenate and
ABG II matter; the impact of investigative and legal proceedings
and compliance risks; resolution of tax audits; the impact of the
federal legislation to reform the United States healthcare system;
changes in financial markets; changes in the competitive
environment; our ability to integrate acquisitions; and our ability
to realize anticipated cost savings. Additional information
concerning these and other factors is contained in our filings with
the U.S. Securities and Exchange Commission, including our Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q.
Stryker is one of the world's leading medical
technology companies and, together with its customers, is driven to
make healthcare better. The company offers innovative products and
services in Orthopaedics, Medical and Surgical, and Neurotechnology
and Spine that help improve patient and hospital outcomes. More
information is available at www.stryker.com.
Contacts
For investor inquiries please
contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or
katherine.owen@stryker.com
For media inquiries please
contact:
Yin Becker, Stryker Corporation, 269-385-2600 or
yin.becker@stryker.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Stryker Corporation via Globenewswire
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