ELECTROMEDICS RECEIVES OFFER FROM MEDTRONIC INC.
PARKER, Colo., Dec. 10 /PRNewswire/ -- Electromedics Inc. (NASDAQ-NMS: ELMD), announced that Medtronic Inc. made an offer to acquire Electromedics in a merger. Under the offer, Electromedics shares would be exchangeable for either cash of $6.75 per share or shares of Medtronic common stock. Electromedics Chairman F. James Lynch acknowledged receipt of the Medtronics offer and said, "Our board of directors, acting in the best interests of our shareowners, will evaluate the Medtronic offer and all other relevant information in the context of our definitive merger agreement with St. Jude Medical Inc." Separately, Electromedics announced that it has filed a Form 8-K current report with the Securities and Exchange Commission regarding its previously announced merger agreement with St. Jude Medical. The filing includes a copy of the definitive agreement. Electromedics Inc. designs, manufactures and markets medical equipment and associated disposable devices, focusing on blood therapy and surgical care. Headquartered in Parker, Electromedics employs more than 340 men and women. Its products are sold to more than 1,000 hospitals and medical centers throughout the United States and in 30 countries with new sales and service offices located in Frankfurt, Germany, and in Strasbourg, France. -0- 12/10/93 /CONTACT: Rick Carlock, CFO of Electromedics Inc., 303-840-4004/ (ELMD)
CO: Electromedics Inc.; Medtronic Inc. ST: Colorado IN: MTC SU: TNM
JB-EH -- LA016 -- 2575 12/10/93 11:17 EST
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|Date:||Dec 10, 1993|
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