German Federal Cartel Office clears Asset Purchase Agreement
Solothurn and Davos/Switzerland, August 29, 2006Synthes, Inc. and the AO-Foundation announce that on August 24, 2006, they received clearance from German Federal Cartel Office (FCO) to consummate the Asset Purchase Agreement between Synthes (U.S.A.) and Synthes GmbH ("Synthes") on the one side and Synthes AG Chur and the AO-ASIF Foundation ("AO") on the other side.
Accordingly, on Monday, August 28, Synthes and the AO closed the Asset Purchase Agreement transaction. Under the Agreement, Synthes acquires the Synthes trade names and marks and substantially all of the Intellectual Property, including patents and know-how from the AO.
The Asset Purchase Agreement clearance does not satisfy the concern the FCO has related to the collaboration between Synthes and the AO. The parties have agreed to address such concerns and find a solution in the coming months.
Synthes: A leading medical device company
Synthes is a leading global medical device company. We develop, produce and market instruments, implants and biomaterials for the surgical fixation, correction and regeneration of the human skeleton and its soft tissues.
AO Foundation: The world's leading knowledge organization in osteosynthesis
AO Foundation is a medical non-profit organization with international research and educational activities led by surgeons specialized in trauma, spinal, craniomaxillofacial, and veterinary surgery. Its mission is to promote medical advances and further improve patient care in the fields of trauma surgery, orthopaedics and diseases of the musculoskeletal system.
Founded in 1958, the AO today represents the world's leading knowledge organization in this field. It comprises one of the most important and extensive networks in medicine with more than 5,000 surgeons, and an international faculty of over 3,000 experts in more than 100 countries.
For further information please contact
Peter Fehlmann, Investor Relations, Synthes, Inc.
Phone: +41 32 720 48 10 , Fax: +41 32 720 48 11
e-mail: ir.info@synthes.com
Dr. Gregor Strasser, CEO AO Foundation
Phone: +41 81 414 2804 , Fax: +41 81 414 2280
e-mail: foundation@aofoundation.org