Last checked at 27 Jun 2012 07:00
For immediate release | 27 June 2012 |
ANGLE plc
("ANGLE" or "the Company")
OFFER UNCONDITIONAL FOR NOVOCELLUS' PARTNER ORIGIO A/S ("ORIGIO")
ANGLE plc (AIM: AGL), the technology commercialisation company, notes that all the conditions of the offer by The Cooper Companies Inc ("Cooper") offer to acquire Novocellus' partner, ORIGIO, have been met and the offer is now unconditional.
Cooper intends to make a compulsory acquisition of the remaining shares and will proceed with an application for a delisting of ORIGIO from Oslo Stock Exchange. The transaction is anticipated to close by the end of July 2012.
The all-cash acquisition price of approximately US$189 million values ORIGIO at around three times its current sales of US$65 million. The combined business will, according to Cooper's investor presentation, be ranked number one in the IVF market with a 39% market share.
Paul Remmell, CEO and President of Cooper subsidiary CooperSurgical Inc, commented: "We look forward to working with ANGLE Novocellus to complete the EmbryoSureÒ patient trials and bring the product to market as soon as possible."
ANGLE's Founder and Chief Executive, Andrew Newland, commented:
"Growth in the IVF sector is most likely to come from new products such as ANGLE Novocellus' EmbryoSureÒ IVF embryo viability product. Having a company of Cooper's resources committed to growth in the sector will enable strong support for the delivery of EmbryoSureÒ to the market."
For further information:
ANGLE plc | 01483 685830 |
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
| |
Cenkos Securities Stephen Keys, Adrian Hargrave (Nominated adviser) Andy Roberts (Sales)
| 020 7397 8900 |
Buchanan Mark Court, Fiona Henson, Sophie Cowles
| 020 7466 5000 |
Scott Harris Stephen Scott, Harry Dee | 0207 653 0030 |
About ORIGIO a/s
ORIGIO a/s is a leading global in-vitro fertilization (IVF) medical device company that develops, manufactures and distributes highly specialized products that target IVF treatment with a goal to make fertility treatment safer, more efficient and convenient. Based in Malov, Denmark, Origio has approximately 320 employees and generated sales of DKK 370 million (approximately US$65 million) in 2011. For further information, please visit www.origio.com.
About Cooper Companies, Inc.
The Cooper Companies, Inc. is a global medical device company publicly traded on the NYSE Euronext (NYSE:COO). Cooper is dedicated to being A Quality of Life Company™ with a focus on delivering shareholder value. Cooper operates through two business units, CooperVision and CooperSurgical.
CooperVision brings a refreshing perspective on vision care with a commitment to crafting a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical focuses on supplying women's health clinicians with market leading products and treatment options to improve the delivery of healthcare to women.
Headquartered in Pleasanton, CA, Cooper has over 7,000 employees with products sold in over 100 countries. For more information, please visit www.coopercos.com.