Healthcare Industry News: osteoporosis
News Release - October 18, 2007
Hologic Stockholders Approve Merger with CytycBEDFORD, Mass., Oct. 18 (HSMN NewsFeed) -- Hologic, Inc. (Nasdaq: HOLX ) today announced that its stockholders voted overwhelmingly at a Special Meeting of Stockholders to approve the transactions contemplated by Hologic's previously announced merger with Cytyc.
More than 90 percent of the shares represented at the meeting and more than 70 percent of the outstanding shares of Hologic were voted in favor of the transactions at the Hologic stockholders meeting.
"We are pleased and gratified by the strong support we have received from our stockholders," said Jack Cumming, Hologic's Chairman and Chief Executive Officer. "We are excited about bringing together two well-respected industry leaders in the women's healthcare and diagnostics marketplace, and we are eager to begin working with our colleagues at Cytyc to realize the benefits this combination will bring to stockholders, employees, physicians and their patients."
The transaction is expected to close early next week. Under the terms of the Agreement and Plan of Merger entered into on May 20, 2007, Cytyc stockholders will receive 0.52 of a share of Hologic common stock and $16.50 in cash for each share of Cytyc common stock they own for a total consideration of approximately $6.2 billion.
About Hologic, Inc.
Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic and medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of innovative imaging technology for digital radiography and breast imaging. Hologic's core business units are focused on mammography and breast biopsy, osteoporosis assessment, and mini C- arm and extremity MRI imaging for orthopedic applications.
Information set forth in this communication contains forward-looking statements, which involve a number of risks and uncertainties, including statements involving the anticipated benefits of the proposed transaction. Hologic cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Without limiting the foregoing, Hologic cannot guarantee that the transaction will be completed on a timely basis if at all. Among other things, the transaction is subject to approval of both companies' stockholders as well as other customary closing conditions.
The risks and uncertainties included above are not exhaustive. The Registration Statement on Form S-4 (File No. 333-144238), the annual reports on Form 10-K, the quarterly reports on Form 10-Q, current reports on Form 8-K and other documents Hologic and Cytyc have filed with the SEC contain additional factors that could impact the timing or completion of the transaction. The parties expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the parties expectations or any change in events, conditions or circumstances on which any such statement is based.
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