EXHIBIT 99.1
FOR IMMEDIATE RELEASE
JOMED N.V. ANNOUNCES CONSUMMATION OF
SECOND STEP MERGER WITH ENDOSONICS CORPORATION
Beringen/Switzerland, September 22, 2000. European medical-technology
company JOMED N.V. (SWX: JOM) announced today that on September 21, 2000,
pursuant to an Agreement and Plan of Merger, dated as of August 5, 2000, by
and among JOMED N.V., JOMED Acquisition Corp., a wholly-owned subsidiary of
JOMED N.V. and EndoSonics Corporation (NASDAQ: ESON), JOMED Acquisition
Corp. has merged with and into EndoSonics resulting in EndoSonics becoming
a wholly-owned subsidiary of JOMED N.V.
JOMED also announced that, as a result of the merger, any outstanding
shares of EndoSonics common stock (other than shares for which appraisal is
sought under applicable provisions of Delaware law) not accepted for
payment in connection with JOMED's tender offer for EndoSonics' common
stock at $11.00 per share in cash, would be converted into the right to
receive $11.00 per share in cash, upon presentation to ChaseMellon
Shareholder Services L.L.C., the paying agent for the tender offer, of
appropriate documentation by the holder of any such EndoSonics shares.
ChaseMellon will mail to non-tendering stockholders materials to be used to
exchange EndoSonics stock certificates for such payment.
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JOMED is the leading European developer and manufacturer of stents for
interventional cardiology. It currently offers a range of more than 600
products in more than 60 countries. In 1999, JOMED achieved a turnover of
EUR 43.7 million (US$ 39.5 million) and a net profit of EUR 2.1 million
(US$ 1.9 million). In the first half of 2000, JOMED increased its turnover
by 51% and net profit by 178%. As a result of the acquisition of
EndoSonics, JOMED intends to become a world leader among the suppliers of
innovative products for minimally invasive interventions in blood vessels.
EndoSonics Corporation, headquartered in Rancho Cordova, California, is a
leading developer, manufacturer and marketer of intravascular ultrasound
(IVUS) imaging products, angioplasty catheters, and functional assessment
products to assist in the diagnosis and treatment of cardiovascular and
peripheral vascular disease.
Credit Suisse First Boston is acting as exclusive financial advisor to
JOMED in connection with the acquisition and the related financing and as
dealer manager for the tender offer.
U.S. Bancorp Piper Jaffray Inc. acted as exclusive financial advisor to
EndoSonics in this transaction and rendered a fairness opinion.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements, the
accuracy of which is necessarily subject to risks and uncertainties. Actual
results may differ significantly from the discussion of such matters in the
forward-looking statements. Factors that may cause such difference include,
but are not limited to, those factors set forth in EndoSonics' Annual
Report on Form 10-K for the year ended December 31, 1999, and other filings
from time to time with the Securities and Exchange Commission.
Contact:
JOMED N.V.
Antti Ristinmaa Tor Peters
Chief Financial Officer Chief Executive Officer
phone +46-42-490-6034 phone +41-52-674-8506
EndoSonics Corporation
Kim Kelderman Morgan-Walke Associates, Inc.
Managing Director-Local Contact Jim Byers, Danielle Scheg
phone +916-638-8008 (Investor Relations)
Christopher Katis (Media)
phone +415-296-7383
