Tyco International Acquires Vivant Medical
July 05 2005 - 5:00PM
PR Newswire (US)
Tyco International Acquires Vivant Medical PEMBROKE, Bermuda, July
5 /PRNewswire-FirstCall/ -- Tyco International Ltd.
(NYSE:TYC)(BSX:TYC) today announced that Valleylab, a division in
Tyco's Healthcare segment, acquired Vivant Medical Inc., a leading
developer of microwave ablation medical technology. The transaction
is valued at approximately $66 million cash at close, with up to
approximately $35 million additional to be paid in the future based
on achieving certain milestones. Vivant, an emerging technology
company located in Mountain View, Calif., is developing the
anticipated first-to-market microwave ablation medical technology.
Ablation is a minimally invasive procedure used in a variety of
medical treatments for various forms of cancer. Vivant's
VivaWave(TM) Microwave Ablation System, indicated for soft tissue
treatment, was developed to achieve more predictable procedure
times, with greater accuracy and increased patient safety. The
technology has been in successful clinical applications since late
2004 and the company expects to commercially release the product
soon. "Vivant is an excellent strategic fit with our Healthcare
focus of introducing the latest medical technologies to the market,
improving patient results and healthcare efficiency," said Ed
Breen, Tyco's Chairman and Chief Executive Officer. "In addition,
this transaction is reflective of our near- term acquisition
strategy of purchasing proven technology where we can leverage our
global distribution capability." "This acquisition addresses a
tremendous unmet clinical need in the global marketplace," said
Scott Drake, President of Valleylab. "The combination of Valleylab
and Vivant offers interventional radiologists, surgeons and cancer
patients the most comprehensive portfolio of technology and
therapies to improve clinical outcomes." The Boards of Directors of
both companies have approved the transaction. ABOUT TYCO
INTERNATIONAL Tyco International Ltd. is a global, diversified
company that provides vital products and services to customers in
five business segments: Fire & Security, Electronics,
Healthcare, Engineered Products & Services, and Plastics &
Adhesives. With 2004 revenue of $40 billion, Tyco employs
approximately 250,000 people worldwide. More information on Tyco
can be found at http://www.tyco.com/. ABOUT TYCO HEALTHCARE As a
major business segment of Tyco International Ltd., Tyco Healthcare
manufactures, distributes and services an extensive product line
including disposable medical supplies, monitoring equipment,
innovative wound closure products, advanced surgical devices,
medical instruments and bulk analgesic pharmaceuticals. With
industry-leading brand names such as Autosuture, Kendall,
Mallinckrodt, Nellcor, Puritan Bennett, Syneture and Valleylab,
Tyco Healthcare products are found in virtually every healthcare
setting. More information can be found at
http://www.tycohealthcare.com/. FORWARD LOOKING INFORMATION This
release may contain certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. These statements are based on management's current
expectations and are subject to risks, uncertainty and changes in
circumstances, which may cause actual results, performance or
achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein that
are not clearly historical in nature are forward-looking and the
words "anticipate," "believe," "expect," "estimate," "plan," and
similar expressions are generally intended to identify
forward-looking statements. The forward-looking statements in this
release include statements addressing the following subjects:
future financial condition and operating results. Economic,
business, competitive and/or regulatory factors affecting Tyco's
businesses are examples of factors, among others, that could cause
actual results to differ materially from those described in the
forward-looking statements. Tyco is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. More detailed information about these
and other factors is set forth in Tyco's Annual Report on Form 10-K
for the fiscal year ended Sept. 30, 2004, and Quarterly Report on
Form 10-Q for the quarterly period ended April 1, 2005. DATASOURCE:
Tyco International Ltd. CONTACT: Marty Dauer, Media Relations,
+1-609-720-4385, or Ed Arditte, Investor Relations,
+1-609-720-4621, or John Roselli, Investor Relations,
+1-609-720-4624, all of Tyco International Ltd. Web site:
http://www.tyco.com/ http://www.tycohealthcare.com/ Company News
On-Call: http://www.prnewswire.com/comp/897850.html
Copyright