SUNNYVALE, Calif., Sept. 17 /PRNewswire-FirstCall/ -- Kyphon Inc.
(Nasdaq: KYPH) announced today that it has obtained clearance from the
Federal Trade Commission (FTC) and U.S. Department of Justice under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended) with
respect to its acquisition of the non-vertebroplasty spine-related assets
and associated intellectual property rights of Disc-O-Tech Medical
Technologies, Ltd., a privately held Israeli company, and its U.S.
subsidiary. This clearance relates to one of two definitive agreements
entered into with Disc-O-Tech in December 2006.
Completion of this acquisition, which includes the B-Twin(TM)
Expandable Spinal System for use in minimally invasive fusion procedures,
remains subject to obtaining approvals of antitrust authorities in other
relevant jurisdictions. Kyphon expects to complete the acquisition later
this year.
About Kyphon Inc.
Kyphon develops and markets medical devices designed to restore and
preserve spinal function and diagnose the source of low back pain using
minimally invasive technologies. The company's products are used in balloon
kyphoplasty for the treatment of spinal compression fractures caused by
osteoporosis or cancer, in the Functional Anaesthetic Discography(TM)
(F.A.D.(TM)) procedure for diagnosing the source of low back pain, and in
the Interspinous Process Decompression (IPD(R)) procedure for treating the
symptoms of lumbar spinal stenosis. More information about the company and
its products can be found at http://www.kyphon.com and its balloon kyphoplasty
patient education Web site, http://www.spinalfracture.com.
Kyphon and IPD are registered trademarks, and Functional Anaesthetic
Discography and F.A.D. are trademarks, of Kyphon Inc. Disc-O-Tech, B-Twin
and Confidence are trademarks of Disc-O-Tech.
Forward-Looking Statements
This press release contains forward-looking statements, within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995, about
the completion of the proposed acquisition. Forward-looking statements are
based on management's current preliminary expectations and are subject to
risks, uncertainties and assumptions, which may cause the company's actual
results to differ materially from the statements contained herein. Factors
that could cause actual results to differ materially from management's
current expectations include, without limitation, the potential inability
to obtain the regulatory approvals and clearances required to complete the
acquisition, or to do so in a timely manner. Additional factors that may
affect future results are contained in Kyphon's filings with the SEC, which
are available at the SEC's website http://www.sec.gov. Kyphon undertakes no
obligation to release publicly any revisions to any forward-looking
statements contained herein to reflect events or circumstances after the
date hereof.
KYPHG
SOURCE Kyphon Inc.
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Related links:
http://www.kyphon.com
http://www.spinalfracture.com
CONTACT:
Investors and Media, Julie D. Tracy, Vice
President, Chief Communications Officer, of Kyphon Inc.,
+1-408-548-6687, jtracy@kyphon.com
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