Respironics Acquires Apollo Light Systems, Inc., Expands into Circadian Rhythm Device-Based Therapy Market
02 Octubre 2007 - 6:59AM
PR Newswire (US)
MURRYSVILLE, Pa., Oct. 2 /PRNewswire/ -- Respironics, Inc.
(NASDAQ:RESP) today announced that it has acquired 100% of the
outstanding shares of Apollo Light Systems, Inc., a 20-year-old,
privately held company and a leading manufacturer of light therapy
systems for melatonin suppression and circadian rhythm sleep
disorders. Operating under the name Apollo Health, the company is
located in American Fork, Utah and has annual revenues of
approximately $5 million. The base cash purchase price is $6.5
million, with provisions for additional payments to be made based
on Apollo's operating performance over the next year. Total
potential earn out payments are less than the base purchase price.
"Apollo's light therapy technologies further our strategy to expand
into the broader sleep market. Apollo will become part of our Sleep
Well Ventures business which is focused on pursuing opportunities
in insomnia, circadian rhythm disorders and other sleep/wake market
segments," stated John L. Miclot, President and CEO of Respironics.
"Our intent is to broaden the scope of the company beyond our core
business of obstructive sleep apnea and to enter white spaces where
we can serve the needs of problems sleepers seeking medical devices
that are easier and more natural to live with," Miclot added. The
company stated that the acquisition will not have a material impact
on revenues or earnings and the company will not be changing its
financial outlook or guidance based on this announcement. Apollo
Health is the leading provider of light therapy systems in the U.S.
offering both tabletop and small handheld units. Apollo's products
align with Respironics' existing professional sleep clinician and
homecare provider channels and reach other channels including
researchers in sleep and psychiatry, and practice-based physicians.
Apollo's products are also sold through mass market retailers and
direct internet sales. Apollo's product line includes the
briteLite(TM) Series Light Boxes, which use BRITEWAVE(TM)
technology to create specific wavelengths that produce a circadian
response while eliminating UV hazards, and the goLITE(R) Series
Handheld Light Therapy Devices, which feature BLUEWAVE(R)
technology, a narrow range of blue light found in natural sunlight.
Light therapy is a scientifically validated and effective treatment
for sleep and circadian rhythm related disorders such as jet lag,
chronic insufficient sleep and mood disorders. Light therapy
treatment is currently available on a non-prescription basis and
may be used across the broad spectrum of people suffering from
sleep disorders to individuals who want to manage their body clock
for optimal sleep quality and daytime performance. Respironics is a
leading developer, manufacturer and distributor of innovative
products and programs that serve the global sleep and respiratory
markets. Focusing on emerging market needs, the Company is
committed to providing valued solutions to help improve outcomes
for patients, clinicians and healthcare providers. Respironics
markets its products in 141 countries and employs over 5,100
associates worldwide. Further information can be found on the
Company's Web site: http://www.respironics.com/. FORWARD-LOOKING
STATEMENT This document contains forward-looking statements,
including statements relating to, among other things, developments
in the healthcare industry; the success of the Company's marketing,
sales, and promotion programs; future sales, acceptance, and
quality of the Company's products and programs; the results of
clinical trials; the timing and success of new product
introductions; new product development; anticipated cost savings;
FDA and other regulatory requirements, enforcement actions, product
recalls or related field actions; future results from acquisitions
and strategic investments; growth rates in foreign markets;
regulations and other factors affecting operations and sales
outside the United States; foreign currency fluctuations; the
effects of a major natural disaster, cyber-attack or other
catastrophic event that results in the destruction or disruption of
any critical business or information technology systems; customer
consolidation and concentration; increasing price competition and
other competitive factors in the manufacture, distribution, and
sale of products; interest rate fluctuations; expiration of
intellectual property rights; intellectual property and related
litigation; other litigation; future levels of earnings and
revenues; the number of equity awards granted to employees and
changes in the Company's stock price; and third party
reimbursement; all of which are subject to change. Actual results
may differ materially from those described in any forward-looking
statements. Additional information on potential factors that could
affect the Company's financial results are included in the reports
filed with the SEC, including the reports on Form 10-K, 10-Q and
8-K. (C) 2007 Respironics, Inc. and its affiliates. All rights
reserved. DATASOURCE: Respironics, Inc. CONTACT: Dan Bevevino of
Respironics, Inc., Vice President & CFO, +1-724-387-5235; or
Joe Calabrese, +1-212-827-3772, or Julie Tu, +1-212-827-3776, both
of Financial Relations Board for Respironics, Inc. Web site:
http://www.respironics.com/
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