ALARIS Medical Gives Additional Details On Sale of Instromedix.Business Editors/Health & Medical Writers SAN DIEGO--(BW HealthWire)--Aug. 22, 2000 ALARIS Medical Inc. (AMEX AMEX See: American Stock Exchange :AMI) announced today additional details regarding the proposed sale of the Instromedix(R) Division of its wholly owned operating subsidiary, ALARIS Medical Systems Inc. to Card Guard Scientific Survival Ltd. (SWX SWX Swiss Exchange (trademark of SWX Swiss Exchange) SWX SolidWorks (3D solid modeling CAD software) SWX Splitter / Wave Division Multiplexer New Market: CARDG CARDG Compressed Arc Digital Raster Graphics ). The transaction is scheduled to close Aug. 31, 2000. The waiting period under the Hart, Scott, Rodino Act has expired, and approval of the ALARIS Medical bank group is in progress. The purchase price will be $30 million cash. ALARIS anticipates repaying approximately $18 million of bank debt shortly after closing. As a result of this transaction, ALARIS Medical will report the results of Instromedix as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. and will reclassify Verb 1. reclassify - classify anew, change the previous classification; "The zoologists had to reclassify the mollusks after they found new species" class, classify, sort out, assort, sort, separate - arrange or order by classes or categories; "How would you prior periods. A small after-tax book gain is anticipated as a result of this transaction and will be reported as part of the discontinued operation. ALARIS Medical Inc., through its operating subsidiary ALARIS Medical Systems Inc., is known for its IMED IMED International Medical Education Directory (R) and IVAC IVAC Islington Voluntary Action Council (England, UK) IVAC Insert Valid Access Card (satellite TV hacking) IVAC International Video & Audio Convention IVAC Idle Air Control Valve (R) brand names of intravenous infusion therapy systems. The company's principal line of business is the design, manufacture and marketing of intravenous infusion therapy products, patient monitoring instruments and related disposables. In addition to its San Diego world headquarters and manufacturing facility, the company also operates manufacturing facilities in Creedmoor, N.C.; Basingstoke, Hampshire, UK; and Tijuana, Mexico. Additional information on ALARIS Medical can be found at www.alarismed.com. Card Guard Scientific Survival Ltd. is a leading medical technology company specializing in advanced telemedicine systems for patient populations, ranging from high risk and chronically ill patients to ordinary consumers of health products. Card Guard, based in Rehovot, Israel, with wholly-based subsidiaries in the United States, Europe, and Brazil and offices in Japan and Italy, was incorporated in 1986 and commenced operations in 1990. In November 1999, Card Guard successfully completed an initial public offering on the Swiss Stock Exchange New Market. In January of 2000, Card Guard acquired the assets of Lifewatch Inc., a provider of telemedicine services. This news release contains forward-looking statements as defined in the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Persons reading this release are cautioned that such forward-looking statements involve risks and uncertainties, including the effect of legislative and regulatory changes affecting the health care industry, the potential of increased levels of competition, technological changes, the dependence of ALARIS Medical upon the success of new products and ongoing research and development efforts including obtaining regulatory approvals, restrictions contained in the instruments governing ALARIS Medical's indebtedness, and the significant leverage to which it is subject. Such risk factors are detailed in the Securities and Exchange Commission filings of ALARIS Medical, Inc., including Form 10-K for the year ended Dec. 31, 1999. ALARIS Medical assumes no obligation to update any forward-looking statements as a result of new information or future events or developments. |
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