Advanced medical Optics (NYSE:AVO)
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Advanced Medical Optics and VISX Set Record Date for Voting on
Proposed Transaction
SANTA ANA and SANTA CLARA, Calif., April 7 /PRNewswire-FirstCall/ -- Advanced
Medical Optics, Inc. (AMO) (NYSE:AVO), and VISX, Incorporated (NYSE:EYE)
announced today that the two companies have set the close of business on April
14, 2005, as the record date for determining AMO and VISX stockholders entitled
to receive a notice of, and to vote at, the respective special meetings of
stockholders to approve AMO's acquisition of VISX. The dates for the special
meetings have not yet been set. The companies continue to expect to close the
transaction in the second quarter of 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050324/AMOLOGO)
AMO announced in November 2004 its plan to acquire VISX. Under the terms of
the definitive merger agreement, VISX stockholders are expected to receive
0.552 shares of AMO stock and $3.50 in cash for every share of VISX common
stock they own. AMO expects the exchange of shares to be tax-free to VISX
stockholders. Upon completion of the transaction, AMO's stockholders will own
approximately 58.5 percent of the combined company and VISX's stockholders will
own approximately 41.5 percent.
AMO also announced that the same record date, the close of business on April
14, 2005, will be used for determining AMO stockholders entitled to receive a
notice of, and to vote at, the company's annual meeting of stockholders, to be
held at 10:00 a.m. PDT on Thursday, May 26, 2005, at AMO's headquarters.
Additional Information and Where You Can Find It
AMO has filed a Registration Statement on Form S-4 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 (when they become available), 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) 773-7600. 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.
AMO and its 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 AMO and their respective interests in the proposed
transaction will be available in the joint proxy statement/prospectus.
VISX and its respective directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of AMO and
VISX in favor of the proposed transaction. Information about the directors and
executive officers of VISX and their respective interests in the proposed
transaction will be available in the joint proxy statement/prospectus.
About Advanced Medical Optics (AMO)
AMO 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/.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained in this document that refer to the timing and certainty of
closing the transaction and estimated share ownership percentages are
forward-looking statements within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and beliefs and are subject to a
number of factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. Therefore,
actual outcomes and results may differ materially from what is expressed
herein. For example, if either of the companies does not receive required
stockholder approvals or fails to satisfy other conditions to closing, the
transaction will not be consummated. The inability to obtain, or meet
conditions imposed for, applicable regulatory and tax requirements relating to
the merger could also cause actual results to differ materially. Other risk
factors are set forth in AMO's and VISX's most recent Annual Reports on Form
10-K. AMO is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events, or otherwise.
Advanced Medical Optics, Inc.
Investors:
Sheree Aronson
(714) 247-8290
Media:
Steve Chesterman
(714) 247-8711
VISX, Incorporated
Investors and Media:
Jackie Cossman
(408) 773-7435
http://www.newscom.com/cgi-bin/prnh/20050324/AMOLOGO
http://photoarchive.ap.org/
DATASOURCE: Advanced Medical Optics, Inc.
CONTACT: investors, Sheree Aronson, +1-714-247-8290,
, or media, Steve Chesterman, +1-714-247-8711,
, both of Advanced Medical Optics, Inc.; or
investors and media, Jackie Cossman of VISX, Incorporated, +1-408-773-7435,
Web site: http://www.visx.com/
Web site: http://www.amo-inc.com/