ZOLL Medical Corporation Completes Purchase of Assets from Alsius Corporation
CHELMSFORD, Mass.--(BUSINESS WIRE)--ZOLL Medical Corporation (Nasdaq GS: ZOLL) announced today that it has completed the previously-announced purchase of the assets of Alsius Corporation’s (Nasdaq: ALUS - News) intravascular temperature management device business for approximately $12 million.
The entire complement of Alsius products will continue to be offered by ZOLL to meet the ongoing needs of Alsius customers and their patients. This includes both the Thermogard XP™ Advanced Temperature Management System as well as the Cool Gard 3000® System. ZOLL intends to maintain the full line of Alsius catheters, all of which provide central venous infusion capabilities. To make this transition seamless for customers, ZOLL will provide all warranty and service obligations relating to the installed base of Alsius products.
“Temperature management is a critical component of our product portfolio. With this purchase, ZOLL demonstrates its commitment to becoming a leader in accurate, easy-to-use and cost effective control of body temperature in critical care patients,” said Richard A. Packer, Chairman and CEO of ZOLL.
Mr. Packer added, “As we look to the future of therapeutic temperature management, we will be integrating the superior technologies from both Alsius and Radiant Medical, Inc., an earlier asset acquisition, in combination with ZOLL’s own developments in this area, to provide the very best solution for patients’ needs. We believe that the convenience and accuracy of cooling and warming that can be achieved with our technology will be unsurpassed.”
As the clinical community continues to expand the applications for therapeutic temperature management, ZOLL intends to work with leading clinicians to help expand the indications for therapeutic hypothermia.
ZOLL plans to consolidate the operations of the acquired business at its new 53,000 sq. foot facility in Sunnyvale, California, which has a separate production area designed specifically for catheter manufacturing.
About ZOLL Medical Corporation
ZOLL Medical Corporation is committed to developing technologies that help advance the practice of resuscitation. With products for pacing, defibrillation, circulation, and fluid resuscitation, ZOLL provides a comprehensive set of technologies, including Real CPR Help® and See-Thru CPR®, that help clinicians, EMS professionals, and lay rescuers resuscitate sudden cardiac arrest or trauma victims. ZOLL also designs and markets software that automates the documentation and management of both clinical and non-clinical information.
ZOLL markets and sells its products in more than 140 countries. The Company has direct operations, distributor networks, and business partners throughout the U.S., Canada, Latin America, Europe, the Middle East and Africa, Asia, and Australia. During 2008 ZOLL marked the 25th anniversary of the company’s resuscitation product development. For more information, visit www.zoll.com.
Certain statements contained in this press release, including statements regarding the future business of the Company, 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, our ability to establish and expand our therapeutic hypothermia business, penetration of new markets and the successful sales and marketing of our therapeutic hypothermia products, the ability to obtain requisite regulatory approvals for our future therapeutic hypothermic products, and 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 6, 2009. You should not place undue reliance on the forward-looking statements in this press release, and the Company disavows any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
Copyright © 2009 ZOLL Medical Corporation. All rights reserved. 269 Mill Road, Chelmsford, MA 01824-4105. ZOLL, Cool Gard 3000, Real CPR Help, and See-Thru CPR are registered trademarks of ZOLL Medical Corporation. Thermogard XP is a trademark of ZOLL Medical Corporation. All product names are the property of their respective owners.
Contact:
INVESTOR CONTACT: ZOLL Medical Corporation A. Ernest Whiton, +1 978-421-9655 Chief Financial Officer or MEDIA CONTACT: ZOLL Medical Corporation Diane Egan, +1 978-421-9637 degan@zoll.com