CHELMSFORD, Mass.--(BUSINESS WIRE)--March 17, 2004--ZOLL Medical Corporation (NASDAQ: ZOLL - News), a manufacturer of non-invasive cardiac resuscitation devices, today announced the acquisition of Infusion Dynamics, Inc. based in Plymouth Meeting, PA. Infusion Dynamics, incorporated in 1995, manufactures a unique fluid resuscitation product called the Power Infuser®. The Power Infuser is a small, lightweight, easy-to-use device, which provides highly controlled, rapid delivery of intravenous (IV) fluids to trauma victims. The device sells for under $2,000 and utilizes a disposable cartridge. Fluid resuscitation is the primary treatment for hypovolemia caused by traumatic injury, the third leading cause of death in the United States (U.S.). The Power Infuser is approved by the U.S. Food and Drug Administration (FDA).
Infusion Dynamics' sales to date have been primarily to the U.S. Military, which began purchasing the Power Infuser in 2003. It is expected that the product will have broader appeal in the Aero medical transport, EMS, and Emergency Room settings. Under the terms of the acquisition, ZOLL will pay approximately $6.6 million in cash, and additional earn out and royalty payments over the next several years based on the performance of the business.
Commenting on the transaction, Richard A. Packer, President and Chief Executive Officer of ZOLL, observed, "The addition of fluid resuscitation capability fits within our strategic vision of providing resuscitation technologies that move ZOLL beyond the defibrillation shock. This product will fit with our existing distribution and be sold to existing customers. It is another product that is born of the growing recognition that improved technology is required if we are to improve resuscitation rates. We expect this technology can break out of the niche it has established within the military market and become more broadly adopted in emergency settings over the coming years. We are excited to add the Power Infuser to our growing portfolio of products that will drive ZOLL's growth in the future."
Mr. Packer stated, "We are investing significant resources in 2004 to expand our worldwide distribution capabilities. While we do not expect to change our company-wide outlook for 2004 as a result of this transaction, the Power Infuser offers an incremental opportunity for leverage beyond 2004 as we continue to expand our resuscitation product portfolio. We are excited to welcome Infusion Dynamics to the ZOLL family."
Paul Loughnane, President of Infusion Dynamics, noted, "We believe we have found a terrific partner in ZOLL. ZOLL's sales and marketing organization already serves many of the potential markets for our device with great vision. We are thrilled to join the ZOLL team."
About Fluid Resuscitation
Fluid resuscitation, providing circulatory support through intravenous fluid administration, is the primary treatment for hypovolemia. Hypovolemia, the decrease in the volume of circulatory blood, is a common condition found in trauma patients and can lead to shock and death. Trauma is widely recognized as a major health problem and is the third leading cause of death in the U.S.
The infusion of fluids to treat hypovolemia is typically accomplished using a gravity driven feed, often by elevating a bag on an IV pole. Gravity can be augmented by squeezing the bag manually, or with an inflatable pressure infuser. These typical methods are cumbersome to use in many emergency settings and do not provide for the accurate control of the amount of fluid entering the patient. Since both over and under-infusion can be life threatening, controlled delivery is critical for survival.
About the Power Infuser
The Power Infuser utilizes a unique patented process for tightly controlling the infusion of fluid into the patient to maximize the resuscitation benefit. Its automated fluid control features are well suited to the harsh conditions typically found in a battlefield or EMS environments. The unique technology is highly efficient allowing the device to be extremely small and portable and to run off of standard AAA batteries.
ZOLL Medical Corporation (NASDAQ: ZOLL - News), with worldwide headquarters in Chelmsford, Massachusetts, designs, manufactures, and markets resuscitation solutions. Pacing and defibrillation devices, including ZOLL's M Series(TM) and AED Plus(TM), and LIFECOR, Inc.'s LifeVest(TM) Wearable Defibrillator; and circulatory assist devices such as Advanced Circulatory Systems, Inc.'s ResQPOD(TM) Circulatory Enhancer and Revivant Corporation's AutoPulse(TM); are used by health care professionals, emergency medical service providers, and first responders to diagnose and treat cardiac arrest wherever it may occur. ZOLL also designs and markets software that automates the collection and management of both clinical and non-clinical data. ZOLL has sales operations in Australia, Austria, Canada, China, France, Germany, India, The Netherlands, Russia, the United Kingdom, and the United States, and business partners in all of the world's major markets. For more information about ZOLL, its products and partners, visit www.zoll.com or call 978-421-9655.
Certain statements contained in this press release, including statements regarding the anticipated development of the Company's business, our ability to differentiate our products from other on the market, 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 18, 2004.
Copyright (C) 2004 ZOLL Medical Corporation. All rights reserved. 269 Mill Road, Chelmsford, MA 01824-4105. ZOLL is a registered trademark of ZOLL Medical Corporation. Power Infuser is a registered trademark of Infusion Dynamics, Inc. All trademarks are property of their respective owners.
ZOLL Medical Corporation Investors: A. Ernest Whiton, 978-421-9655 or Media: Robert Minicucci, 978-421-9832 firstname.lastname@example.org
Source: ZOLL Medical Corporation