Nipro Corporation and Home Diagnostics, Inc. Announce Completion of Merger
15 Marzo 2010 - 6:30AM
Business Wire
Nipro Corporation (Tokyo Stock Exchange and Osaka Stock Exchange
Ticker Code 8086) today announced the successful completion of a
short-form merger of Home Diagnostics, Inc. (NASDAQ: HDIX) with
Nipro’s wholly-owned subsidiary, Nippon Product Acquisition
Corporation (the “Purchaser”).
To complete the acquisition of 100% of Home Diagnostics’ shares,
the Purchaser has effected a short-form merger pursuant to Delaware
law in which the Purchaser has merged with and into Home
Diagnostics, with Home Diagnostics surviving the merger and
continuing as a wholly-owned subsidiary of Nipro. As a result of
the merger, any Home Diagnostics shares not tendered pursuant to
the Purchaser’s previously-announced tender offer (other than any
(i) treasury shares, shares held by any Home Diagnostics subsidiary
or shares held by Nipro or any of its subsidiaries and (ii) shares
held by a holder who has not voted in favor of or consented to the
merger and who has properly demanded and perfected the holder’s
appraisal rights under Delaware law) will be converted into the
right to receive $11.50 in cash, without interest and less any
required withholding taxes.
Following the merger, Home Diagnostics’ shares will cease to be
traded on the Nasdaq Global Select Market.
About Nipro Corporation
Nipro Corporation (Tokyo Stock Exchange and Osaka Stock Exchange
Ticker Code 8086), founded in 1954, is engaged directly and through
its subsidiaries principally in the development, manufacture and
sale of medical devices, pharmaceutical products and medical and
glass products. Nipro’s medical device division is engaged in the
manufacture and sale of medical devices and its related products,
the development, manufacture and sale of cell culturing-related
products, as well as the development and sale of diabetes-related
products. Nipro also currently markets its own insulin pump through
its U.S. diabetes division. Nipro’s pharmaceutical division is
engaged in the research, manufacture and sale of pharmaceuticals,
such as blood derivatives. The instrument division of Nipro
manufactures and sells glass pipes and other glass products,
including the inner bottles of thermos bottles. Nipro and its
subsidiaries also sell medical device manufacturing equipment and
conduct real estate leasing and non-life insurance agency
businesses. For more information please visit www.nipro.co.jp.
About Home Diagnostics
Based in Fort Lauderdale, Florida, Home Diagnostics (NASDAQ:
HDIX) is a leading developer, manufacturer and marketer of diabetes
management products. Home Diagnostics offers a portfolio of
high-quality blood glucose monitoring systems that spans the
spectrum of features and benefits to help every person with
diabetes better monitor and manage their disease. The Home
Diagnostics product line includes TRUE2go™, TRUEresult®,
TRUEtrack®, TRUEbalance™, Sidekick®, TRUEread® and Prestige IQ®
blood glucose monitoring systems. The products are available in
more than 45,000 pharmacies throughout the U.S. Home Diagnostics is
the exclusive co-brand supplier of blood glucose monitoring systems
for leading pharmacies including CVS, Rite Aid and Walgreens, as
well as distributors such as AmerisourceBergen, Cardinal Health,
McKesson, Invacare and Liberty Medical. Home Diagnostics was named
one of Forbes magazine’s “200 Best Small Companies” in 2008, and in
2009 received several recognitions for the company’s TRUE2go blood
glucose meter, including a Medical Design Excellence Award
(MDEA) and a Gold Award in the Medical/Test Equipment category
as part of appliance DESIGN Magazine’s 22nd Annual Excellence in
Design (EID) Awards Competition. For more information please
visit www.homediagnostics.com.
Forward-looking statements
The statements made in this press release which are not
historical facts are forward-looking statements. As a result of a
number of factors, actual results could differ materially from
those set forth in the forward-looking statements. Factors that
might cause actual results to differ materially from those in the
forward-looking statements include those factors set forth under
the heading “Risk Factors” in Home Diagnostics’ annual report on
Form 10-K for the year ended December 31, 2008. The
forward-looking statements are made only as of the date of press
release. Except as otherwise required by law, Nipro and Home
Diagnostics each specifically disclaim any obligation to update any
of these forward-looking statements.
TRUE2go, TRUEresult, TRUEbalance, TRUEtrack, Sidekick, TRUEread,
Prestige IQ, TRUEfill and TRUEtest are trademarks of Home
Diagnostics. All other trademarks are property of their respective
owners.
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