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INAMED CORPORATION ANNOUNCES
STOCK REPURCHASE PROGRAM
Santa Barbara, California - July 31, 2000 - Inamed Corporation (Nasdaq NM: IMDC)
announced today that it has been authorized by its Board of Directors to
institute a stock repurchase program, which will initially cover up to
approximately $6 million of common stock.
Mr. Ilan Reich, Inamed's President and Co-CEO, stated: "We are optimistic about
Inamed's outlook and we believe that repurchasing common stock at the present
valuation levels is beneficial to the Company and its shareholders."
Decisions regarding the amount and timing of repurchases will be made based on
market conditions and other factors. Any shares repurchased would be held as
treasury shares, and will be available for general corporation purposes
(including employee stock option programs).
Inamed is a global surgical and medical device company engaged in the
development, manufacturing and marketing of products for the plastic and
reconstructive surgery, aesthetic medicine and obesity markets.
Inamed sells a variety of lifestyle products used to make people look younger
and more attractive, including breast implants for cosmetic augmentation and
collagen-based facial implants to correct facial wrinkles and to improve lip
definition. Inamed also sells products which address women's health issues,
including breast implants for reconstructive surgery following a mastectomy,
and devices which treat severe obesity and urinary incontinence.
This release contains, in addition to historical information, forward-looking
statements. Such statements are based on management's current expectations and
are subject to a number of uncertainties and risks that could cause actual
results to differ materially from those described in the forward-looking
statements. Factors that may cause such a difference include, but are not
limited to, those described in the Company's annual report on Form 10-K for the
year ended December 31, 1999.
Inamed Contacts:
Ilan Reich, President and Co-CEO or
Michael Doty, Chief Financial Officer
(212) 273-3430
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