LIFECORE ACQUIRES IMPLANT SUPPORT SYSTEMS, INC.
CHASKA, Minn., July 28 /PRNewswire/ -- Lifecore Biomedical, Inc. (NASDAQ: LCBM) today announced that it has acquired Implant Support Systems, Inc. (ISS) of Irvine, Calif., for $682,000 in cash and a $2,000,000 note payable in annual installments through December 1996. The terms of the acquisition, combined with ISS' profitable business, are expected to have a net positive effect on Lifecore's cash flow. ISS produces a line of non-coated, threaded, cylindrical endosseous dental implant components that are compatible with several other dental implant manufacturers' systems. These products are currently sold worldwide by catalog to dentists, implantologists, and oral and periodontal surgeons. The ISS product line is highly complementary to Lifecore's Oral Restorative Product line. In addition, the combination is expected to give Lifecore's direct sales and marketing operations significantly greater financial efficiency. The ISS RESTORE(R) Implant
System, in particular, together with Lifecore's SUSTAIN(R) Dental Implant System gives Lifecore broad representation in the $275 million world dental implant market.
Lifecore Biomedical, Inc., develops, manufactures and markets sterile medical devices for a variety of surgical applications in the areas of ophthalmology, dentistry, veterinary, orthopedics, and general surgery, through both direct sales and OEM strategic alliances. -0- 7/28/93 /CONTACT: James W. Bracke, president and CEO, or John C. Heinmiller, vice president and CFO, 612-368-4300, both of Lifecore Biomedical/ (LCBM)
CO: Lifecore Biomedical, Inc.; Implant Support Systems, Inc. ST: Minnesota, California IN: MTC SU: TNM
AL -- MN014 -- 6745 07/28/93 13:01 EDT
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|Date:||Jul 28, 1993|
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