Advanced Medical Optics Completes Purchase of Manufacturing Facility in Madrid, Spain.Business Editors/Health/Medical Writers SANTA ANA, Calif.--(BUSINESS WIRE)--Nov. 6, 2003 Advanced Medical Optics Advanced Medical Optics, Inc., (NYSE: EYE) (known as AMO) is a global medical device leader focused on the discovery and delivery of innovative vision technologies that optimize the quality of life for people of all ages. , Inc. (AMO AMO - America's Multimedia Online ) (NYSE NYSE See: New York Stock Exchange :AVO a·vo n. pl. a·vos See Table at currency. [Portuguese, shortened from oitavo, eighth, from Latin oct ) announced today that its Spanish subsidiary has completed the purchase of an existing manufacturing facility in Madrid, Spain, from Alcon CUSI CUSI - A collection of indices to various World-Wide Web and other Internet documents. It is located at Nexor in the UK. http://web.nexor.co.uk/public/cusi/cusi.html. , S.A., a subsidiary of Alcon, Inc. AMO paid approximately $22 million for the facility. AMO will use the facility to manufacture its eye care products, including its COMPLETE(R) branded product line. "Today marks a significant milestone for AMO and its eye care business. The purchase of this facility allows us to execute on our global strategy of securing a viable alternative for our current manufacturing agreements and positions us to meet the long-term growth needs for our eye care franchise," said James V. Mazzo, AMO president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Together with our existing manufacturing facility in Hangzhou, China, this plant will help ensure the continued, seamless delivery of high-quality, innovative eye care products to customers." The facility currently meets ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. and FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. standards for manufacturing ophthalmic products. In addition to manufacturing, the building includes warehouse space, laboratories and administrative and training facilities. Following a validation and stability testing process, AMO expects the facility to commence production runs by mid-year 2004. About Advanced Medical Optics Advanced Medical Optics, Inc. (AMO) is a global leader in the development, manufacturing and marketing of ophthalmic surgical and eye care products. The Company focuses on developing a broad suite of innovative technologies and devices to address a wide range of eye disorders. Products in the ophthalmic surgical line include foldable intraocular lenses, phacoemulsification phacoemulsification /phaco·emul·si·fi·ca·tion/ (-e-mul?si-fi-ka´shun) a method of cataract extraction in which the lens is fragmented by ultrasonic vibrations and simultaneously irrigated and aspirated. systems, viscoelastics and related products used in cataract surgery, and microkeratomes used in LASIK LASIK laser-assisted in-situ keratomileusis. LA·SIK n. Eye surgery in which the surface of the cornea is reshaped using a laser, performed to correct certain refractive disorders such as myopia. procedures for refractive error correction. AMO owns or has the rights to such well-known ophthalmic surgical product brands as PhacoFlex(R), Clariflex(R), Array(R) and Sensar(R) foldable intraocular lenses, the Sovereign(R) and Sovereign(R) Compact phacoemulsification systems, and the Amadeus(TM) microkeratome. Products in the eye care line include contact lens disinfecting solutions, daily cleaners, enzymatic cleaners and lens rewetting drops. Among the well-known eye care product brands the Company possesses are COMPLETE(R), COMPLETE(R) Blink-N-Clean(R), Consept(R)F, Consept(R) 1 Step, Oxysept(R) 1 Step, Ultracare(R), Ultrazyme(R), Total Care(R) and blink(TM). Amadeus(TM) is a licensed product of, and a trademark of, SIS, Ltd. Advanced Medical Optics, Inc. is based in Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. , and employs approximately 2,000 worldwide. The Company has operations in about 20 countries and markets products in approximately 60 countries. For more information, visit the Company's web site at www.amo-inc.com. Forward-Looking Statements This press release contains forward-looking statements about AMO and its businesses, such as Mr. Mazzo's statements and statements about the timing of production in the facility. These and any other statements in this press release that refer to AMO's estimated or anticipated future results are forward-looking statements. All forward-looking statements in this press release reflect AMO's current analysis of existing trends and information and represent AMO's judgment only as of the date of this press release. Actual results may differ from current expectations based on a number of factors affecting AMO's businesses, including but not limited to competitive and market conditions; unanticipated litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or regulatory delays, AMO's ability to quickly and effectively transition products to the facility, and matters generally affecting the domestic and global economy, such as changes in interest and currency exchange rates, can affect AMO's results. Therefore, the reader is cautioned not to rely on these forward-looking statements. AMO disclaims any intent or obligation to update these forward-looking statements. Additional information concerning these and other risk factors may be found in previous financial press releases issued by AMO. AMO's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Certain Factors and Trends Affecting AMO and its Businesses" in AMO's 2002 Form 10-K and in AMO's Form 10-Q for the quarter ended June 27, 2003, also include information concerning these and other risk factors. Copies of press releases and additional information about AMO are available on the World Wide Web at www.amo-inc.com, or you can contact the AMO Investor Relations Department by calling 714-247-8348. |
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