Federal Trade Commission Clears Kyphon's Acquisition of Non-Vertebroplasty Spine-Related Assets of Disc-O-Tech
September 17 2007 - 5:00AM
PR Newswire (US)
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 DATASOURCE: Kyphon Inc. CONTACT: Investors and Media,
Julie D. Tracy, Vice President, Chief Communications Officer, of
Kyphon Inc., +1-408-548-6687, Web site: http://www.kyphon.com/
http://www.spinalfracture.com/
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