Cytyc Corporation Closes Acquisition of Novacept.Business Editors/High-Tech Writers BOXBOROUGH, Mass.--(BUSINESS WIRE)--March 26, 2004 Cytyc Corporation (Nasdaq:CYTC) announced today that it has closed the acquisition of Novacept(R), a California corporation that manufactures and markets the NovaSure(R) System. NovaSure is an innovative endometrial ablation Endometrial ablation is a medical procedure that is used to remove (ablate) or destroy the endometrial lining of a woman's uterus. This technique is most often employed for women who suffer from excessive or prolonged bleeding during their menstrual cycle but can not or do not wish device to treat menorrhagia menorrhagia /men·or·rha·gia/ (men?ah-ra´jah) hypermenorrhea. men·or·rha·gia n. See hypermenorrhea. , or excessive menstrual bleeding. The acquisition closed on March 24, 2004. Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer, said, "We believe that the acquisition of Novacept is a great strategic opportunity for Cytyc as it builds on our reputation and leadership position in providing innovative products for women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. , increases our sales and marketing resources to OB/GYN physicians, leverages our international infrastructure, and puts us on a strong and diversified growth trajectory." Cytyc Corporation designs, develops, manufactures, and markets the ThinPrep(R) System for use in medical diagnostic applications primarily focused on women's health. The ThinPrep System is widely used for cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. screening and is the platform from which the Company has launched its expansion into breast cancer risk assessment with the FirstCyte(R) Breast Test. The ThinPrep System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, ThinPrep(R) Imaging System, and related reagents, filters, and other supplies. With this acquisition, Cytyc Corporation will design, develop, manufacture, and market the NovaSure(R) Impedance Controlled Endometrial Ablation System, or the NovaSure(R) System, which consists of a single-use device and a controller that deliver radiofrequency, or RF, energy to the uterus. Cytyc is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CYTC. Cytyc, ThinPrep, and FirstCyte are registered trademarks of Cytyc Corporation. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's financial condition, operating results and future economic performance, and management's expectations regarding future growth opportunities, product acceptance and business strategy, constitute forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from those statements. Risks and uncertainties include, among others, dependence on key personnel and proprietary technology, uncertainty of product development and acquisition integration efforts, product acceptance, management of growth, risks associated with competition and competitive pricing pressures, risks associated with the 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. regulatory approval processes and any healthcare reimbursement policies, risks associated with 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. , and other risks detailed in the Company's filings with the Securities and Exchange Commission, including under the heading "Certain Factors Which May Affect Future Results" in its 2003 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Commission. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. The Company disclaims any obligation to publicly update or revise any such statements to reflect any change in Company expectations or events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion