Advanced medical Optics (NYSE:AVO)
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Advanced Medical Optics, Inc. and VISX, Incorporated Update
Timeline on Expected Merger Completion
SANTA ANA, Calif. and SANTA CLARA, Calif., Feb. 15 /PRNewswire-FirstCall/ --
Advanced Medical Optics, Inc. (AMO) (NYSE:AVO) and VISX, Incorporated (VISX)
(NYSE:EYE) today announced that they now expect to complete their proposed
merger during the second quarter of 2005. Earlier the companies had indicated
they were working to complete the merger during the first quarter of 2005. The
companies are awaiting the completion of their respective year-end audited
financial statements, which are now required to be included in their joint
proxy statement/prospectus under applicable securities laws, prior to
scheduling their respective stockholder meetings and mailing the joint proxy
statement/prospectus to their stockholders.
About Advanced Medical Optics, Inc.
Advanced Medical Optics, Inc. is a global leader in the development,
manufacturing and marketing of ophthalmic surgical and eye care products. The
company focuses on developing a broad suite of innovative technologies and
devices to address a wide range of eye disorders. Products in the ophthalmic
surgical line include intraocular lenses, phacoemulsification systems,
viscoelastics, microkeratomes and related products used in cataract and
refractive surgery. AMO owns or has the rights to such ophthalmic surgical
product brands as Phacoflex(R), Clariflex(R), Array(R), Sensar(R), CeeOn(R),
Tecnis(R) and Verisyse(TM) intraocular lenses, Sovereign(R) and Sovereign(R)
Compact(TM) phacoemulsification systems with WhiteStar(TM) technology,
Amadeus(TM) and Amadeus(TM) II microkeratomes, Healon(R) and Vitrax(R)
viscoelastics, and the Baerveldt(R) glaucoma shunt. Products in the contact
lens care line include disinfecting solutions, daily cleaners, enzymatic
cleaners and lens rewetting drops. Among the contact lens care product brands
the company possesses are COMPLETE(R) Moisture PLUS(TM), COMPLETE(R)
Blink-N-Clean(R), Consept(R)F, Consept(R) 1 Step, Oxysept(R) 1 Step,
UltraCare(R), Ultrazyme(R), Total Care(R) and blink(TM) branded products.
Amadeus is a licensed product of, and a trademark of, SIS, Ltd. AMO is based
in Santa Ana, California, and employs approximately 2,800 worldwide. The
company has operations in about 20 countries and markets products in
approximately 60 countries. For more information, visit the company's Web site
at http://www.amo-inc.com/.
About VISX, Incorporated
VISX is a worldwide market leader in the design, manufacture, and sale of laser
vision correction systems. The Company was founded in 1988 and received FDA
approval for its first laser vision correction product in 1996. VISX holds
over 200 patents worldwide and has licensed its technology to Alcon, Bausch &
Lomb, LaserSight, Nidek, Schwind, Zeiss-Meditec, and WaveLight Technologies.
VISX recently introduced the CustomVue(TM) procedure, a significant advancement
in laser vision correction that enables customized corrections based on a
comprehensive diagnostic measurement of the optical errors in the eye.
Clinical trial results show that the CustomVue(TM) procedure has the potential
to improve vision beyond the correction possible with contacts and glasses.
In the United States alone there are 50 to 60 million eligible laser vision
correction candidates who experience some form of nearsightedness,
farsightedness, or astigmatism. VISX has a current effort underway to treat
presbyopia, the condition that requires reading glasses with age, due to loss
of accommodation for close work. Additional information on VISX can be found
on the worldwide web at http://www.visx.com/.
Additional Information and Where You Can Find It
On December 6, 2004, AMO filed a Registration Statement on Form S-4, the most
recent amendment to which was filed on February 14, 2005, with the SEC that
includes a joint proxy statement/prospectus of VISX and AMO and other relevant
materials in connection with the proposed transaction. The joint proxy
statement/prospectus will be mailed to the stockholders of VISX and AMO.
Investors and security holders of VISX and AMO are urged to read the joint
proxy statement/prospectus and the other relevant materials when they become
available because they will contain important information about VISX, AMO and
the proposed transaction. The joint proxy statement/prospectus and other
relevant materials, and any other documents filed by VISX or AMO with the SEC,
may be obtained free of charge at the SEC's web site at http://www.sec.gov/.
In addition, investors and security holders may obtain free copies of the
documents filed with the SEC by VISX by contacting VISX Investor Relations at
or via telephone at (408) 773-7435. Investors and security holders may obtain
free copies of the documents filed with the SEC by AMO at
http://www.amo-inc.com/ or via telephone at (714) 247-8348. Investors and
security holders are urged to read the joint proxy statement/prospectus and the
other relevant materials when they become available before making any voting or
investment decision with respect to the proposed transaction.
VISX and AMO and their respective directors and executive officers may be
deemed to be participants in the solicitation of proxies from the stockholders
of VISX and AMO in favor of the proposed transaction. Information about the
directors and executive officers of VISX and AMO and their respective interests
in the proposed transaction will be available in the joint proxy
statement/prospectus.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements based on current
expectations, forecasts, and assumptions of AMO and VISX that involve risks and
uncertainties. Forward-looking statements in this release, including
statements relating to the timing of completion of the merger, are based on
information available to AMO and VISX as of the date hereof. The following
factors, among others, could cause actual results to differ materially from
those described in the forward-looking statements: risks associated with
uncertainty as to whether the transaction will be completed, costs and
litigation associated with the merger, the failure to obtain the approval of
each company's stockholders, the inability to obtain, or meet conditions
imposed for, applicable tax requirements relating to the merger, the failure of
either party to meet the closing conditions set forth in the definitive
agreement, the ability to retain key personnel before the merger, each
company's ability to successfully execute its business strategies, the extent
and timing of regulatory approvals, and the extent and timing of market
acceptance of new products or product indications, manufacturing, litigation,
the procurement, maintenance, enforcement and defense of patents and
proprietary rights, competitive conditions in the industry, business cycles
affecting the markets in which any products may be sold, fluctuations in
foreign exchange rates and interest rates, and economic conditions generally or
in various geographic areas, including those set forth in AMO's and VISX's most
recent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q,
especially in the "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections, and their respective
Current Reports on Form 8-K and other SEC filings. AMO and VISX are under no
obligation to (and expressly disclaim any such obligation to) update or alter
their forward-looking statements whether as a result of new information, future
events, or otherwise.
Advanced Medical Optics:
Investor Contact:
Sheree Aronson
(714) 247-8290
Media Contact:
Steve Chesterman
(714) 247-8711
VISX INCORPORATED:
Investor/Media Contact:
Jackie Cossmon
(408) 773-7435
DATASOURCE: Advanced Medical Optics
CONTACT: investors, Sheree Aronson, +1-714-247-8290,
, or media, Steve Chesterman, +1-714-247-8711,
, both of Advanced Medical Optics; or
investors/media, Jackie Cossmon of VISX INCORPORATED, +1-408-773-7435,
Web site: http://www.amo-inc.com/