IRVINE, Calif., Oct 29 /CNW/ -- IsoTis, Inc. (Nasdaq: ISOT) ("IsoTis"),
an orthobiologics company, today announced that, at the special meeting of
stockholders re-convened earlier today, IsoTis stockholders have approved the
acquisition of IsoTis by Integra LifeSciences Holdings Corporation (Nasdaq:
IART) ("Integra") pursuant to an agreement and plan of merger dated as of
August 6, 2007.
The acquisition is expected to close shortly, followed by settlement of
the acquisition price of $7.25 in cash per share. Following the merger, shares
of IsoTis common stock will cease to be listed on NASDAQ.
IsoTis is an orthobiologics company that develops, manufactures and
markets proprietary products for the treatment of musculoskeletal diseases and
disorders. IsoTis' current orthobiologics products are bone graft substitutes
that promote the regeneration of bone and are used to repair natural, trauma-
related and surgically-created defects common in orthopedic procedures,
including spinal fusions. IsoTis' current commercial business is highlighted
by its Accell line of products, which the company believes represents the next
generation in bone graft substitution.
On August 7, 2007 Integra and IsoTis announced that they have reached a
definitive agreement to create a global orthobiologics leader. The combination
would create a comprehensive orthobiologics portfolio, one of the largest
sales organizations focused on orthobiologics in the US, and multiple cross-
selling opportunities. The transaction is subject to certain closing
conditions and approvals. Upon closing, IsoTis will become a wholly-owned
subsidiary of Integra and Integra will be one of the largest companies in the
world focused on advanced technology in orthobiologics.
Certain statements in this press release are "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, including those that refer to management's plans and expectations
for, among other things, future operations, strategies, prospects, performance
and financial condition and IsoTis' proposed acquisition by Integra. Words
such as "strategy," "expects," "plans," "anticipates," "believes," "may,"
"will," "might," "could," "would," "continues," "estimates," "intends,"
"pursues," "projects," "goals," "targets" or the negative or other variations
thereof and other words of similar meaning are intended to identify such
forward-looking statements. One can also identify them by the fact that they
do not relate strictly to historical or current facts. Such statements are
based on the current expectations and projections of the management of IsoTis
only. Undue reliance should not be placed on these statements because, by
their nature, they are subject to known and unknown risks and can be affected
by factors that are beyond the control of IsoTis. Actual results could differ
materially from current expectations and projections. Any forward-looking
statements are made pursuant to the Private Securities Litigation Reform Act
of 1995 and, as such, speak only as of the date made. IsoTis undertakes no
obligation to publicly update any forward-looking statements, whether as a
result of new information, future events or otherwise.
For further information:
For further information: Rob Morocco, CFO, +1-949-855-7195,
+41-21-620-6011, email@example.com; or Hans Herklots, Director IR,
+1-949-855-7155, firstname.lastname@example.org, both of IsoTis, Inc.