REDWOOD CITY, Calif., Oct. 7 /PRNewswire/ -- Perclose, Inc. (Nasdaq: PERC)
today announced that due to the current uncertainty surrounding the outcome of
discussions between Abbott Laboratories and the United States Food & Drug
Administration (FDA) regarding compliance issues in Abbott's Diagnostics
Division, additional disclosures to Perclose stockholders may be necessary
prior to a stockholder vote on the Perclose acquisition by Abbott. As a
result, the Perclose stockholder meeting scheduled for October 8, 1999 will be
adjourned to November 19, 1999. Following clarification of Abbott's FDA
concerns, supplemental proxy materials, if needed, would be circulated prior
to the November 19, 1999 meeting. Perclose stockholders that have already
voted on the transaction would then have an opportunity to recast their votes,
if desired.
Perclose and Abbott Laboratories continue to believe that the fundamental
premises of the proposed business combination remain valid.
Perclose, based in Menlo Park California, designs, manufactures and
markets less invasive medical devices that automate the surgical closure or
connection of blood vessels. The Prostar (R) products, marketed in the U.S.
and internationally, surgically close the arterial access site in the femoral
artery following catheterization procedures such as angioplasty, stenting and
atherectomy. The Techstar (R) products, also marketed worldwide, surgically
close the arterial access site in the femoral artery following diagnostic
angiography procedures. These patented, proprietary products offer superior
clinical treatment, more rapid recovery, earlier hospital discharge and a
lower treatment cost alternative to the standard method of closing arterial
access sites. The Heartflo(TM) System, which is designed to automate the
surgical connection of blood vessels during conventional and minimally
invasive coronary artery bypass surgery, is in development. Perclose common
stock is traded on the NASDAQ National Market under the symbol PERC.
For more information on Perclose via fax at no cost, call (800) PRO-INFO,
ticker symbol PERC.
SOURCE Perclose, Inc.
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CONTACT:
Ken Ludlum, Chief Financial Officer of
Perclose, 650-473-3100; or General, Traci McCarty, or analysts,
Kate Rajeck, 415-986-1591, both of The Financial Relations Board,
for Perclose
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