Federal Trade Commission Clears Kyphon, Inc.'s Acquisition of Non-Vertebroplasty Spine-Related Assets of Disc-O-Tech Medical Technologies
SUNNYVALE, Calif., Sept. 17 /PRNewswire-FirstCall/ -- Kyphon Inc. announced today that it has obtained clearance from the Federal Trade Commission (FTC) and U.S. Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended) with respect to its acquisition of the non-vertebroplasty spine-related assets and associated intellectual property rights of Disc-O-Tech Medical Technologies, Ltd., a privately held Israeli company, and its U.S. subsidiary. This clearance relates to one of two definitive agreements entered into with Disc-O-Tech in December 2006.
Completion of this acquisition, which includes the B-Twin(TM) Expandable Spinal System for use in minimally invasive fusion procedures, remains subject to obtaining approvals of antitrust authorities in other relevant jurisdictions. Kyphon expects to complete the acquisition later this year.
About Kyphon Inc.
Kyphon develops and markets medical devices designed to restore and preserve spinal function and diagnose the source of low back pain using minimally invasive technologies. The company's products are used in balloon kyphoplasty for the treatment of spinal compression fractures caused by osteoporosis or cancer, in the Functional Anaesthetic Discography(TM) (F.A.D.(TM)) procedure for diagnosing the source of low back pain, and in the Interspinous Process Decompression (IPD(R)) procedure for treating the symptoms of lumbar spinal stenosis. More information about the company and its products can be found at www.kyphon.com and its balloon kyphoplasty patient education Web site, www.spinalfracture.com.
Kyphon and IPD are registered trademarks, and Functional Anaesthetic Discography and F.A.D. are trademarks, of Kyphon Inc. Disc-O-Tech, B-Twin and Confidence are trademarks of Disc-O-Tech.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, about the completion of the proposed acquisition. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties and assumptions, which may cause the company's actual results to differ materially from the statements contained herein. Factors that could cause actual results to differ materially from management's current expectations include, without limitation, the potential inability to obtain the regulatory approvals and clearances required to complete the acquisition, or to do so in a timely manner. Additional factors that may affect future results are contained in Kyphon's filings with the SEC, which are available at the SEC's website http://www.sec.gov. Kyphon undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.
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Kyphon Inc.CONTACT: Investors and Media, Julie D. Tracy, Vice President, ChiefCommunications Officer, of Kyphon Inc., +1-408-548-6687, jtracy@kyphon.com