Theragenics Announces Completion of Merger with Juniper
29 Octobre 2013 - 6:55PM
Business Wire
Theragenics Corporation® (NYSE: TGX) (the “Company”), a medical
device company serving the surgical products and prostate cancer
treatment markets, announced today that it completed the merger
with Juniper Acquisition Corporation, an affiliate of Juniper
Investment Company, LLC (“Juniper”). As a result of the merger,
each outstanding share of common stock of the Company (other than
shares held by Juniper Acquisition Corporation) was converted into
the right to receive $2.20 per share in cash, and the Company has
become a wholly owned subsidiary of an affiliate of Juniper.
As previously announced, the merger was approved by the
Company’s stockholders at a special meeting of stockholders held on
October 17, 2013. As a result of the merger, the Company’s stock
will no longer be publicly traded. Senior management of all of the
operating businesses, including CP Medical, Galt Medical,
Needletech Products and the brachytherapy business will remain
unchanged.
Commenting on the transaction, Frank J. Tarallo, the Company’s
Chief Executive Officer, stated, “Theragenics will continue to
build a leading medical device company that provides outstanding
value to our customers. This begins with our employees who drive
our success. We will continue to support our customers with focused
product development along with our strong foundation of quality,
dedication and service. We look forward to this next phase of our
growth and the new opportunities we would not have had if we
remained a public company.”
Mr. Tarallo continued, “Our fundamental business strategy will
not change, including expanding the breadth of products in all of
our surgical products businesses and increasing market share in
brachytherapy. We are refining our previously announced plans to
move certain Galt Medical operations offshore in order to maintain
greater business continuity, minimize disruption to our customers
and allow us to better control the process and outcomes.”
Alexis Michas of Juniper Investment Company said, “We are very
pleased to complete the acquisition of Theragenics. The Company has
an exciting future, and we will support the business plan to
deliver profitable growth by providing outstanding products and
outcomes for the Company’s customers. We are very impressed with
the efforts to date of the Theragenics management to create a solid
foundation which will help us build a much larger company.”
Stockholders of record will receive a letter of transmittal and
instructions on how to surrender their shares of Company common
stock to the paying agent in exchange for payment of the merger
consideration. Stockholders of record should wait to receive the
letter of transmittal before surrendering their shares.
Theragenics Corporation operates two business segments: its
surgical products business and its brachytherapy seed business. The
surgical products business (www.cpmedical.com, www.galtmedical.com,
www.needletech.com) manufactures and distributes wound closure,
vascular access, and specialty needle products. Wound closure
products include sutures, needles and other surgical products.
Vascular access includes introducers, guidewires and related
products. Specialty needles include coaxial, biopsy, spinal and
disposable veress needles, access trocars, radiofrequency devices,
implanters, introducer products, and other needle-based products.
The surgical products segment serves a number of markets and
applications, including, among other areas, interventional
cardiology, interventional radiology, vascular surgery,
orthopedics, plastic surgery, dental surgery, urology, veterinary
medicine, pain management, endoscopy, and spinal surgery.
Theragenics’ brachytherapy business manufactures, custom loads,
markets and distributes “seeds” used primarily in the minimally
invasive treatment of localized prostate cancer. The Company’s
brachytherapy product line (www.theragenicsbrachy.com) includes its
palladium-103 TheraSeed® device and its iodine-125 AgX100® device.
For additional information visit www.theragenics.com.
Forward-Looking Statements
Certain matters discussed in this report may be forward-looking
statements. These forward-looking statements are based on current
expectations, estimates, forecasts and projections of future
company or industry performance based on management’s judgment,
beliefs, current trends and market conditions. Actual outcomes and
results may differ materially from what is expressed, forecasted or
implied in any forward-looking statement. Forward-looking
statements may be identified by the use of words such as “will,”
“expects,” “intends,” “plans,” “anticipates,” “believes,” “seeks,”
“estimates,” and similar expressions. There are a number of risks
and uncertainties that could cause actual results to differ
materially from the forward-looking statements included in this
document. These include, but are not limited to: (i) the outcome of
any legal proceedings to the extent initiated against the Company
and others following the announcement of the transaction cannot be
predicted; (ii) the business of the Company may suffer as a result
of uncertainty surrounding the transaction; and (iii) the Company
may be adversely affected by other economic, business, and/or
competitive factors. Other factors that could cause the Company’s
actual results to differ materially from those expressed or implied
are discussed under “Risk Factors” in the Company’s most recent
annual report on Form 10-K and other filings with the SEC. The
Company undertakes no obligation to update any forward-looking
statements whether as a result of new information, future events or
otherwise. Readers are cautioned not to place undue reliance on
these forward-looking statements.
Theragenics CorporationFrank Tarallo, 800-998-8479 -
770-271-0233CFO &TreasurerorLisa Rassel, 800-998-8479 -
770-271-0233Manager of Investor Relationswww.theragenics.com
Theragenics (NYSE:TGX)
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