Synthes resolves merger control proceedings in Germany – Synthes will be added to the SMI
Philadelphia (PA)/USA and Oberdorf/Switzerland, October 1, 2004Synthes, Inc. (SWX ticker symbol: SYST) has reached an agreement with the German Federal Cartel Office (Bundeskartellamt) that resolves the dispute relating to the merger of Synthes and Mathys. Effective today, the shares of Synthes will be included in the Swiss Market Index.
The merger of Synthes and Mathys closed on a worldwide basis on February 6, 2004 with the exception of Germany. At the time, the German operations of Mathys were left independent because the German Federal Cartel Office (Bundeskartellamt) had indicated its intention to prohibit the merger in Germany. Following extensive discussions with the German Federal Cartel Office (Bundeskartellamt), the German osteosynthesis operations of former Mathys Medical have now been sold to Auriga Medical Products GmbH, a company controlled by U.S. investors. Following this measure, the German Federal Cartel Office (Bundeskartellamt), declared to the Court of Appeals in Duesseldorf, where Synthes’ appeal against the prohibition decision is pending, that it will no longer stand by its prohibition order. Subsequently, Synthes will withdraw its appeal, and the appeals proceeding will be terminated.
Auriga has been appointed the exclusive Synthes distributor for Northern and Eastern Germany. The market in Southern Germany will be served by Synthes Umkirch. Synthes will continue to deliver osteosynthesis products to Auriga, so the entire German market will receive delivery of top-quality products under the Synthes® brand.
“We are pleased to have finally reached a solution acceptable to all parties involved”, stated Hansjörg Wyss, Chairman and CEO of Synthes. "Now we can continue to implement our vision of Global Synthes".
Effective today, October 1, 2004, Synthes will be included for the first time in the Swiss Market Index (SMI). Synthes shares will in the future be traded on virt-x, the SWX's blue chip trading platform in London.
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