Press Release
Abbott Completes Acquisition of Advanced Medical Optics
More information regarding Abbott's Investor Relations
resources:
February 26, 2009
Abbott Park, Illinois (NYSE: ABT)
— Abbott today announced that it has completed its acquisition of Advanced
Medical Optics (AMO). AMO is now a wholly owned subsidiary of Abbott and has
been renamed Abbott Medical Optics Inc.
The acquisition of AMO enhances and strengthens Abbott's diverse mix of
medical device businesses and gives it a leadership position in the large and
growing eye care market. Abbott Medical Optics holds the number one position in
LASIK surgical devices, the number two position in the cataract surgical device
market and the number three position in contact lens care products.
"As with previous acquisitions that have strengthened and diversified
our business, we're entering a market that's aligned with demographic trends
and growing medical need," said John M. Capek, executive vice president,
Medical Devices, Abbott. "This acquisition provides Abbott access to a
$22 billion global market and the opportunity to
help a very large patient population."
The final step in the acquisition process was a short-form merger of
Rainforest Acquisition Inc., a wholly owned subsidiary of Abbott, with and into
Advanced Medical Optics, Inc. As a result of the merger, all outstanding shares
of AMO common stock not tendered in the cash tender offer (other than those as
to which holders properly exercise dissenters’ rights) were converted into the
right to receive $22 per share in cash, without interest and subject to any
required withholding taxes.
About Abbott
Abbott (NYSE: ABT)
is a global, broad-based health care company devoted to the discovery,
development, manufacture and marketing of pharmaceuticals and medical products,
including nutritionals, devices and diagnostics. The company employs over
72,000 people and markets its products in more than 130 countries.
Private Securities Litigation Reform Act of 1995 — A
Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for
purposes of the Private Securities Litigation Reform Act of 1995. Abbott
cautions that these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
indicated in the forward-looking statements. Economic, competitive,
governmental, technological and other factors that may affect Abbott’s
operations are discussed in Item 1A, "Risk
Factors," to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2008, and are incorporated by reference.
Abbott undertakes no obligation to release publicly any revisions to
forward-looking statements as a result of subsequent events or
developments.
Media:
Scott Stoffel |
(847) 936-9502 |
Financial:
Tina Ventura |
(847) 935-9390 |
