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NxStage Medical Completes Acquisition of Medisystems
LAWRENCE, Mass., Oct. 1 /PRNewswire-FirstCall/ -- NxStage
Medical, Inc. (Nasdaq: NXTM), the manufacturer of the NxStage
System One(TM) portable kidney dialysis machine, today announced
that the Company has completed its acquisition of Medisystems
Corporation and certain affiliated entities ("Medisystems") for
6.5 million shares of NxStage common stock.
"I believe that we now have the components in place to realize
the significant opportunities that we see in each segment of the
dialysis market - hospital, in-center and home-based therapies.
Our acquisition of Medisystems establishes us as a vertically
integrated manufacturer and distributor of innovative dialysis
products, with greatly expanded scale and capabilities," said
Jeffrey H. Burbank, President & CEO of NxStage Medical. "I am
more confident than ever in our ability to continue to lead and
grow the home hemodialysis market, as we begin a new era for
NxStage."
In addition to assembling the NxStage System One cartridge,
Medisystems develops, manufactures and distributes disposables
for in-center dialysis therapy. Medisystems is a U.S. market
leader in hemodialysis blood tubing sets and A.V. fistula
needles. For the first six months of 2007, Medisystems recorded
$32.0 million in revenues, including $3.7 million in sales to
NxStage.
"NxStage has demonstrated the ability to create significant
value in the dialysis marketplace. I am very excited about the
combination of our businesses and believe it is a great
opportunity for Medisystems' customers and employees," commented
David S. Utterberg, President and CEO of Medisystems.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device
company, headquartered in Lawrence, Massachusetts, USA, that
develops, manufactures and markets innovative systems for the
treatment of end-stage renal disease, or ESRD, and acute kidney
failure. For more information on NxStage and its products,
please visit the Company's website at
www.nxstage.com.
Forward-Looking Statements
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this release that are not clearly
historical in nature are forward-looking, and the words
"anticipate," "believe," "expect," "estimate," "plan," and
similar expressions are generally intended to identify
forward-looking statements. Examples of these forward-looking
statements include statements as to the anticipated benefits of
the Medisystems transaction and expected growth in the home
hemodialysis market. All forward-looking statements involve
risks, uncertainties and contingencies, many of which are beyond
NxStage's control, which may cause actual results, performance,
or achievements to differ materially from anticipated results,
performance or achievements, including factors that may affect
future operating results and which are detailed in NxStage's
filings with the Securities and Exchange Commission, including
the Annual Report on Form 10-K for the year ended December 31,
2006, the Quarterly Report on Form 10-Q for the quarter ended
June 30, 2007 and the Definitive Proxy Statement filed on
September 12, 2007.
In addition, the statements in this press release represent
NxStage's expectations and beliefs as of the date of this press
release. NxStage anticipates that subsequent events and
developments may cause these expectations and beliefs to change.
However, while NxStage may elect to update these forward-looking
statements at some point in the future, it specifically
disclaims any obligation to do so, whether as a result of new
information, future events, or otherwise. These forward-looking
statements should not be relied upon as representing NxStage's
expectations or beliefs as of any date subsequent to the date of
this press release.
Investor Relations Contact
Stephanie Marks for NxStage
1-888-698-6472
ir@nxstage.com
Source
NxStage Medical, Inc.
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