Encore Medical Corporation Closes Agreement to Sell U.S. Consumer Product Line
06 Juli 2006 - 1:25AM
PR Newswire (US)
AUSTIN, Texas, July 5 /PRNewswire-FirstCall/ -- Encore Medical
Corporation (NASDAQ:ENMC) announced today that on June 30, 2006 it
closed its agreement to sell its Slendertone(R) U.S. consumer
product line for cash consideration of approximately $6.8 million
primarily for the Slendertone inventory and all of Encore's
distribution rights to Slendertone products in the U.S. The
purchaser was Bio-Medical Research Limited, an Ireland based
private company that developed, manufactures, distributes and owns
all intellectual property rights to the Slendertone product line.
Encore intends to use the net proceeds from this sale toward
Encore's core Surgical Implant and Orthopedic Rehabilitation
businesses. Encore Medical Corporation is a diversified orthopedic
device company that develops, manufactures and distributes a
comprehensive range of high quality orthopedic devices used by
orthopedic surgeons, physicians, therapists, athletic trainers and
other healthcare professionals to treat patients with
musculoskeletal conditions resulting from degenerative diseases,
deformities, traumatic events and sports-related injuries. Through
its Orthopedic Rehabilitation Division, Encore is a leading
distributor of electrical stimulation and other orthopedic products
used for pain management, orthopedic rehabilitation, physical
therapy, fitness and sport performance enhancement. Encore's
Surgical Implant Division offers a comprehensive suite of
reconstructive joint products and spinal implants. For more
information, visit http://www.encoremed.com/ . Except for the
historical information contained herein, the matters discussed are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties, such the timely
availability of new products, the impacts of competitive products
and pricing, the ability to continue to obtain long-term financing,
and other risks and uncertainties set forth in the Company's
filings with the Securities and Exchange Commission. These risks
and uncertainties could cause actual results to differ materially
from any forward-looking statements made herein. For: Encore
Medical Corporation Contact: Harry L. Zimmerman Executive Vice
President - General Counsel (512) 832-9500 DATASOURCE: Encore
Medical Corporation CONTACT: Harry L. Zimmerman, Executive Vice
President - General Counsel of Encore Medical Corporation,
+1-512-832-9500, or Web site: http://www.encoremed.com/
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