Guidant Announces European Clearance of Acquisition; European Commission Ruling Necessitates Organizational and Staffing Adjustm
25 Août 2005 - 1:21PM
Business Wire
Guidant Corporation (NYSE:GDT) today announced that as a result of
the European Commission ruling approving the merger with Johnson
& Johnson, it is implementing a number of organizational
changes to facilitate the divestiture of Guidant's Endovascular
Solutions operations in Europe. The remainder of Guidant's European
operations is not affected by this ruling. Planned activities
include: -- Restructuring of reporting relationships of the
Endovascular Solutions organization to "hold separate" certain
affected employees; -- Formulating retention programs to ensure the
sustainability of the Endovascular Solutions business; and --
Communicating the new structure and responsibilities to customers.
The Company expects a decision by the Federal Trade Commission in
October. Guidant Corporation pioneers lifesaving technology, giving
an opportunity for better life today to millions of cardiac and
vascular patients worldwide. The company, driven by a strong
entrepreneurial culture of more than 12,000 employees, develops,
manufactures and markets a broad array of products and services
that enable less invasive care for some of life's most threatening
medical conditions. NOTE TO MEDIA: For more information about
Guidant, including its products and services, please visit the
company's newsroom at www.guidant.com/newsroom.
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