UroMed Corporation Completes Successful Cash Tender Offer for $34.9 Million of Its 6% Convertible Subordinated Notes Due October 15, 2003.NEEDHAM, Mass.--(BW HealthWire)--Oct. 22, 1998--UroMed Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :URMDC) announced today that it has successfully completed its self tender offer (the "Offer") and purchased $34.9 million aggregate principal amount of its 6% Convertible Subordinated Notes due October 15, 2003 (the "Notes"). The maximum amount of the Offer was $40.0 million principal amount of notes and noteholders tendered approximately $34.9 million principal amount of notes, all of which were purchased by the Company. The Offer expired at 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on October 21, 1998. The purchase price of the Notes per $1,000 principal amount was $450 plus accrued and unpaid interest from October 15, 1998 up to, but not including, the date of payment. Paine Webber Incorporated was the dealer manager for the Offer. John G. Simon, UroMed's chairman of the board and chief executive officer, commented, "We believe that the completion of a successful tender offer is positive for all concerned. The purchase of $34.9 principal amount of the Notes, in conjunction with our stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program, more appropriately aligns our capital structure to our present operational profile. Additionally, this successful transaction should provide the Company greater flexibility in managing its operations and in financing its business." UroMed, founded in October 1990, is dedicated to establishing itself as a leader in the development of male and female healthcare products. UroMed has developed or acquired technology in three core areas: prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. , urinary incontinence, and breast cancer. UroMed's direct hospital-based business lines include its CaverMap Surgical Aid, intended to aid physicians in preserving vital nerves during prostate cancer surgery, its Iodine125 prostate cancer brachytherapy seeds (not yet commercially available), its brachytherapy introducer needles, and AlloSling and BEACON Technology System, minimally invasive incontinence surgical lines. UroMed's office-based continuum of continence continence /con·ti·nence/ (kon´tin-ens) the ability to control natural impulses.con´tinent con·ti·nence n. 1. Self-restraint; moderation. 2. care product lines include the Reliance(R) Insert, the INTROL(R) Bladder Neck Support Prosthesis prosthesis (prŏs`thĭsĭs): see artificial limb. prosthesis Artificial substitute for a missing part of the body, usually an arm or leg. , and the Impress Softpatch, for which the company is seeking marketing partnership(S). In breast cancer screening This article or section recently underwent a major revision or rewrite and needs further review. You can help! X-ray mammography Mammography is still the modality of choice for screening of early breast cancer, since it is relatively fast, reasonably accurate, and , UroMed, through its Assurance Medical group, is developing its investigational BreastExam(TM), BreastCheck(TM) and BreastView(TM) electronic palpation palpation /pal·pa·tion/ (pal-pa´shun) the act of feeling with the hand; the application of the fingers with light pressure to the surface of the body for the purpose of determining the condition of the parts beneath in physical diagnosis. technology in order to aid physicians and patients in the important mission of finding suspicious breast lumps earlier. UroMed also continues to dedicate resources to the development and/or acquisition of product lines that fit into UroMed's strategic platform. INTROL(R) Bladder Neck Support Prosthesis and Reliance(R) Urinary Control Insert are registered trademarks of UroMed Corporation. Impress(TM)Softpatch, PelvicFlex(TM) Personal Trainer Video , BEACON Technology System(TM), BreastCheck(TM) BreastExam(TM) BreastView(TM), CaverMap(TM) Surgical Aid and AlloSling(TM) Fascia fascia (făsh`ēə), fibrous tissue network located between the skin and the underlying structure of muscle and bone. Fascia is composed of two layers, a superficial layer and a deep layer. are trademarks of UroMed Corporation. |
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