American Medical Systems Completes Cash Tender Offer for Shares of Laserscope
July 20 2006 - 10:14AM
Business Wire
American Medical Systems Holdings, Inc. (NASDAQ:AMMD), the global
leader in providing pelvic health solutions to urologists and
gynecologists, announced today that is has successfully completed
its cash tender offer for shares of Laserscope (NASDAQ:LSCP). The
tender offer, which commenced on June 14, 2006, expired at 12:00
midnight, central time, on July 19, 2006. A total of 21,157,077
shares of Laserscope common stock were validly tendered and not
withdrawn prior to the expiration of the offer (including 1,353,240
shares tendered pursuant to notices of guaranteed delivery),
representing approximately 92.97% of the "fully diluted" shares of
Laserscope, as defined in the parties' merger agreement. AMS has
closed its senior secured credit facility led by CIT Healthcare
LLC, which will be used to fund a portion of the purchase of the
Laserscope shares. Payment for these shares will be made promptly.
Conference Call Information American Medical Systems will discuss
the Laserscope acquisition as well as integration milestones and
future financial projections when it hosts its second quarter
earnings conference call at 5:00 p.m. eastern time on Thursday,
July 27, 2006. Those without internet access may join the call from
within the U.S. by dialing 800-886-7217 or outside the U.S. by
dialing 706-679-3821. A live webcast of the call will be available
through AMS' corporate website at www.AmericanMedicalSystems.com
and available for replay three hours after the completion of the
call. About American Medical Systems American Medical Systems,
headquartered in Minnetonka, Minnesota is a diversified supplier of
medical devices and procedures to cure erectile dysfunction, benign
prostatic hyperplasia, incontinence, menorrhagia, prolapse and
other pelvic disorders in men and women. These disorders can
significantly diminish one's quality of life and profoundly affect
social relationships. In recent years, the number of people seeking
treatment has increased markedly as a result of longer lives,
higher quality-of-life expectations and greater awareness of new
treatment alternatives. American Medical Systems' products reduce
or eliminate the incapacitating effects of these diseases, often
through minimally invasive therapies. AMS' products were used to
provide approximately 170,000 patient cures in 56 countries during
2005. More information about AMS can be found on its website at
www.AmericanMedicalSystems.com. About Laserscope Laserscope
designs, manufactures, sells and services an advanced line of
minimally invasive medical products worldwide including medical
laser systems and related energy delivery devices for the office,
outpatient surgical center and hospital markets. More information
about Laserscope can be found on its website at www.Laserscope.com.
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