VIASYS Healthcare acquires Micro Medical

15 March 2005

CONSHOHOCKEN, Pa, USA. VIASYS Healthcare Inc. (NYSE:VAS) has announced that it has signed a definitive agreement to acquire Micro Medical Ltd for a purchase price of approximately $39 million. In addition, in the transaction VIASYS is assuming approximately $1.2 million in net debt and has agreed, in certain circumstances, to make a contingent payment related to the sales of a new product and a contingent payment related to performance targets.

Micro Medical, based in Chatham, UK, had 2004 revenues of approximately $16 million and has a global presence in hand-held and desk top devices for respiratory measurements used to diagnose and monitor asthma, Chronic Obstructive Pulmonary Disease (COPD) and bronchitis.

Micro Medical is one of the world's leading manufacturers of turbine spirometers and also produces products for respiratory muscle measurement, smoking cessation, lactose intolerance and arterial measurements. Micro Medical's other products include the PULSE TRACE(TM) system, an innovative system for measuring arterial stiffness. Arterial stiffness has been shown to be a risk factor of cardiovascular disease. The products are oriented to physician office practice and primary care.

Ed Pulwer, Group President, VIASYS Respiratory Care, said, "This is a very exciting acquisition for VIASYS and brings us an outstanding company in one of the fastest growth segments of respiratory diagnostics. The continued rise in the incidence of asthma and COPD, and the financial burden associated with chronic respiratory disease, has resulted in medical professionals and governments calling for early diagnosis, intervention and management of these patients. Micro Medical products are innovative as well as cost-effective, and their simplicity of use makes them well-suited to use in primary care. I believe the combined strength of Micro Medical in spirometry, and the recognized market leadership of VIASYS' brand names, JAEGER(TM) and SENSORMEDICS(R), for respiratory diagnostics, will prove to be a winning combination."

Daniel Quirke, Managing Director, Micro Medical, commented, "VIASYS is a great fit for Micro Medical. Over half of our revenues come from the United Kingdom, and the VIASYS reputation, global distribution, and product support capabilities will greatly enhance our international efforts. While we have been very successful in our marketing efforts in the United Kingdom, we do not believe we have tapped the growth potential in markets such as the USA, Germany, Japan and China."

Randy Thurman, Chairman, President and CEO, VIASYS Healthcare Inc., commented, "The acquisition of Micro Medical expands VIASYS' product line and accelerates our strategy of adding strategically valuable products, technologies, and distribution in the respiratory and neurological markets."

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