Encore Medical's Proposed Acquisition of Compex Technologies Clears Antitrust Review
January 19 2006 - 7:30AM
PR Newswire (US)
AUSTIN, Texas, Jan. 19 /PRNewswire-FirstCall/ -- Encore Medical
Corporation (NASDAQ:ENMC) announced today that the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, relating to its pending acquisition of Compex
Technologies, Inc. (NASDAQ:CMPX), expired on January 18, 2006. On
November 14, 2005, Encore announced that it had agreed to acquire
Compex Technologies for approximately $94 million in stock, along
with assuming $15 million in debt, subject to certain adjustments.
The closing of the acquisition remains subject to other customary
conditions. Encore currently expects the transaction to close in
the first quarter of 2006. Encore Medical Corporation is a
diversified orthopedic device company that develops, manufactures
and distributes a comprehensive range of high quality orthopedic
devices, including surgical implants, sports medicine equipment and
products for orthopedic rehabilitation, pain management and
physical therapy. Based in Austin, Texas, Encore's products are
used by orthopedic surgeons, physicians, therapists, athletic
trainers and other healthcare professionals to treat patients with
musculoskeletal conditions resulting from degenerative diseases,
deformities, traumatic events and sports-related injuries. Encore's
non-invasive medical devices and related accessories are primarily
used by patients for at-home physical therapy. Encore's Surgical
Implant Division offers a comprehensive suite of reconstructive
joint products and spinal implants. Through its Orthopedic
Rehabilitation Division, Encore is a leading manufacturer and
distributor of orthopedic rehabilitation equipment in the United
States. For more information, visit http://www.encoremed.com/. This
news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to,
statements concerning expectations for the timing of the closing of
pending acquisitions. Such forward-looking statements involve risks
and uncertainties that could cause actual results to differ
materially from predicted or expected results. Among other things,
the fulfillment of all requisite closing conditions could affect
the timing of this acquisition. In addition, the economic,
competitive, governmental, technological and other factors
identified under the heading "Risk Factors" included in the
Business section of Encore Medical's Annual Report on Form 10- K
for the year ended December 31, 2004 and information contained in
subsequent filings with the Securities and Exchange Commission
could affect actual results. Contact: Harry L. Zimmerman, Executive
Vice President (512) 832-9500 Media: Davis Henley, Vice President -
Business Development (512) 832-9500 DATASOURCE: Encore Medical
Corporation CONTACT: Harry L. Zimmerman, Executive Vice President,
, or Davis Henley, Vice President - Business Development, , both of
Encore Medical Corporation, +1-512-832-9500 Web site:
http://www.encoremed.com/
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