RiskMetrics and Glass Lewis Recommend CardioDynamics International Corporation Shareholders Vote FOR the Proposed Merger With SonoSite Inc.
Published: Aug 06, 2009
SAN DIEGO, Aug. 5 /PRNewswire-FirstCall/ -- CardioDynamics , the innovator and leader of BioZ(R) impedance cardiography (ICG) technology, today announced that independent proxy advisory firms RiskMetrics Group, Inc. and Glass Lewis & Co. have recommended that CardioDynamics shareholders vote "FOR" approval of the proposed merger with a subsidiary of SonoSite which will be considered at the August 11, 2009 special meeting of CardioDynamics shareholders. Shareholders of record as of the close of business on June 30, 2009 will be entitled to vote at the meeting. As previously announced, under the terms of the merger agreement, SonoSite will acquire all of the outstanding shares of CardioDynamics common stock for $1.35 per share in cash. This is a premium of 69% over the closing share price on June 8, 2009, the day before the merger agreement was announced.
Mike Perry, Chief Executive Officer of CardioDynamics commented, "We are pleased with the recommendations from both RiskMetrics and Glass Lewis that our shareholders vote to approve our proposed merger with SonoSite."
Additional Information About the Transaction
This announcement is neither a solicitation of a proxy, an offer to purchase, nor a solicitation of an offer to sell shares of CardioDynamics. In connection with the proposed transaction, CardioDynamics has filed a definitive proxy statement with the Securities and Exchange Commission (SEC). The definitive proxy materials contain important information regarding the merger, including, among other things, the recommendation of CardioDynamics' Board of Directors with respect to the merger. INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION. The definitive proxy statement has been sent to shareholders of CardioDynamics to seek their approval of the merger agreement and related matters. Investors can obtain the definitive proxy statement, as well as other filings containing information about CardioDynamics, free of charge, at the website maintained by the SEC at www.sec.gov. Alternatively, copies of the definitive proxy statement and other filings made by CardioDynamics with the SEC can also be obtained, free of charge, by directing a request to CardioDynamics, 6175 Nancy Ridge Drive, Suite 300, San Diego, California 92121, Attention: Investor Relations.
CardioDynamics (www.cdic.com), the ICG Company, is the innovator and leader of an important medical technology called Impedance Cardiography (ICG). The Company develops, manufactures and markets noninvasive ICG diagnostic and monitoring devices and markets proprietary ICG sensors. The Company's ICG Systems are being used by physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Healthcare, Philips Medical Systems and Mindray.
CONTACT: Steve Loomis, Vice President of Operations and Chief Financial
Officer of CardioDynamics, 1-800-778-4825, Ext. 1015,
Web site: http://www.cdic.com/