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Cytyc Corporation (Nasdaq: CYTC) today announced that its unconditional
A$3.25 cash per share tender offer to acquire Vision Systems Limited
(ASX: VSL), dispatched to Vision Systems shareholders on 2 October 2006,
will remain open for Vision Systems shareholders to accept until 17
November 2006, unless withdrawn or extended further in accordance with
the Australian Corporations Act.
Vision Systems shareholders who accept its unconditional A$3.25 cash
offer will receive cash for their securities within five days of
accepting Cytyc's offer.
ABOUT CYTYC CORPORATION
Cytyc Corporation is a leading provider of best-in-class medical
technology that enables physicians and laboratories to improve patient's
lives throughout the world. Cytyc provides diagnostic and minimally
invasive surgical products targeting cancer and women's health. The
ThinPrep® System is
the most widely used method for cervical cancer screening in the United
States. The ThinPrep System consists of the ThinPrep®
2000 Processor, ThinPrep®3000
Processor, ThinPrep®
Imaging System, and related reagents, filters, and other supplies. The
ThinPrep System also provides the platform from which the Company
launched its expansion into breast cancer risk assessment with the
FirstCyte® Breast
Test. The MammoSite®
Radiation Therapy System is a single-use device for the treatment of
breast cancer that positions radiation sources directly into the
post-lumpectomy site to optimize radiation treatment delivery while
minimizing damage to healthy tissue. The NovaSure®
Impedance Controlled Endometrial Ablation System, or the NovaSure®
System, is an innovative endometrial ablation device to treat
menorrhagia, or excessive menstrual bleeding.
Cytyc is traded on The Nasdaq Stock Market under the symbol CYTC. Cytyc,
ThinPrep, NovaSure, MammoSite, and GliaSite are registered trademarks of
Cytyc Corporation.
ABOUT VISION SYSTEMS LIMITED
Vision Systems operates two core business units: Vision Bio-Systems
manufactures and markets automated instruments and reagents for
biopsy-based detection of cancer and infectious diseases in pathology
laboratories worldwide. Products include the Bond™-maX
advanced staining system, the Peloris™ tissue
processor, and Novocastra™ antibodies and
biochemical reagents. Income is generated from capital equipment sales,
visualization reagents to the Bond system and Novocastra branded
antibodies used in immunohistochemistry for the identification of cancer
and infectious diseases.
The second business unit is Invetech, a worldwide provider of research
and development services for both internal and external clients,
primarily in the international healthcare sector.
FORWARD LOOKING STATEMENTS
Forward-looking statements in this press release are made pursuant to
the provisions of Section 21E of the Securities Exchange Act of 1934.
Investors are cautioned that statements in this press release which are
not strictly historical statements, including, without limitation,
statements relating to Cytyc's future financial condition, operating
results and economic performance, and management's expectations
regarding key customer relationships, future growth opportunities,
product acceptance and business strategy, constitute forward-looking
statements. These statements are based on current expectations,
forecasts and assumptions that are subject to risks and uncertainties,
which could cause actual outcomes and results to differ materially from
those statements. Risks and uncertainties include, among others,
dependence on key personnel and customers as well as reliance on
proprietary technology, uncertainty of product development efforts and
product acceptance, management of growth, product diversification, and
organizational change, entry into new market segments domestically and
new markets internationally, risks associated with litigation, the
effective integration of acquired businesses and technologies,
competition and competitive pricing pressures, risks associated with the
FDA regulatory approval processes and healthcare reimbursement policies
in the United States and abroad, introduction of technologies that are
disruptive to Cytyc's business and operations, the impact of new
accounting requirements and governmental rules and regulations, as well
as other risks detailed in Cytyc's filings with the Securities and
Exchange Commission, including those under the heading "Risk Factors" in
its 2005 Annual Report on Form 10-K and its most recent Quarterly Report
on Form 10-Q filed with the Commission. Cytyc cautions readers not to
place undue reliance on any such forward-looking statements, which speak
only as of the date they were made. Cytyc disclaims any obligation to
publicly update or revise any such statements to reflect any change in
its expectations or events, conditions, or circumstances on which any
such statements may be based, or that may affect the likelihood that
actual results will differ from those set forth in the forward-looking
statements.
Cytyc Corporation (Nasdaq: CYTC) today announced that its
unconditional A$3.25 cash per share tender offer to acquire Vision
Systems Limited (ASX: VSL), dispatched to Vision Systems shareholders
on 2 October 2006, will remain open for Vision Systems shareholders to
accept until 17 November 2006, unless withdrawn or extended further in
accordance with the Australian Corporations Act.
Vision Systems shareholders who accept its unconditional A$3.25
cash offer will receive cash for their securities within five days of
accepting Cytyc's offer.
ABOUT CYTYC CORPORATION
Cytyc Corporation is a leading provider of best-in-class medical
technology that enables physicians and laboratories to improve
patient's lives throughout the world. Cytyc provides diagnostic and
minimally invasive surgical products targeting cancer and women's
health. The ThinPrep(R) System is the most widely used method for
cervical cancer screening in the United States. The ThinPrep System
consists of the ThinPrep(R) 2000 Processor, ThinPrep(R)3000 Processor,
ThinPrep(R) Imaging System, and related reagents, filters, and other
supplies. The ThinPrep System also provides the platform from which
the Company launched its expansion into breast cancer risk assessment
with the FirstCyte(R) Breast Test. The MammoSite(R) Radiation Therapy
System is a single-use device for the treatment of breast cancer that
positions radiation sources directly into the post-lumpectomy site to
optimize radiation treatment delivery while minimizing damage to
healthy tissue. The NovaSure(R) Impedance Controlled Endometrial
Ablation System, or the NovaSure(R) System, is an innovative
endometrial ablation device to treat menorrhagia, or excessive
menstrual bleeding.
Cytyc is traded on The Nasdaq Stock Market under the symbol CYTC.
Cytyc, ThinPrep, NovaSure, MammoSite, and GliaSite are registered
trademarks of Cytyc Corporation.
ABOUT VISION SYSTEMS LIMITED
Vision Systems operates two core business units: Vision
Bio-Systems manufactures and markets automated instruments and
reagents for biopsy-based detection of cancer and infectious diseases
in pathology laboratories worldwide. Products include the Bond(TM)-maX
advanced staining system, the Peloris(TM) tissue processor, and
Novocastra(TM) antibodies and biochemical reagents. Income is
generated from capital equipment sales, visualization reagents to the
Bond system and Novocastra branded antibodies used in
immunohistochemistry for the identification of cancer and infectious
diseases.
The second business unit is Invetech, a worldwide provider of
research and development services for both internal and external
clients, primarily in the international healthcare sector.
FORWARD LOOKING STATEMENTS
Forward-looking statements in this press release are made pursuant
to the provisions of Section 21E of the Securities Exchange Act of
1934. Investors are cautioned that statements in this press release
which are not strictly historical statements, including, without
limitation, statements relating to Cytyc's future financial condition,
operating results and economic performance, and management's
expectations regarding key customer relationships, future growth
opportunities, product acceptance and business strategy, constitute
forward-looking statements. These statements are based on current
expectations, forecasts and assumptions that are subject to risks and
uncertainties, which could cause actual outcomes and results to differ
materially from those statements. Risks and uncertainties include,
among others, dependence on key personnel and customers as well as
reliance on proprietary technology, uncertainty of product development
efforts and product acceptance, management of growth, product
diversification, and organizational change, entry into new market
segments domestically and new markets internationally, risks
associated with litigation, the effective integration of acquired
businesses and technologies, competition and competitive pricing
pressures, risks associated with the FDA regulatory approval processes
and healthcare reimbursement policies in the United States and abroad,
introduction of technologies that are disruptive to Cytyc's business
and operations, the impact of new accounting requirements and
governmental rules and regulations, as well as other risks detailed in
Cytyc's filings with the Securities and Exchange Commission, including
those under the heading "Risk Factors" in its 2005 Annual Report on
Form 10-K and its most recent Quarterly Report on Form 10-Q filed with
the Commission. Cytyc cautions readers not to place undue reliance on
any such forward-looking statements, which speak only as of the date
they were made. Cytyc disclaims any obligation to publicly update or
revise any such statements to reflect any change in its expectations
or events, conditions, or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward-looking statements.