Sulzer Medica Acquires 50% of Capital Partners II; Tutogen's Largest Shareholder
BUSINESS WIRE - January 04, 2001 08:31
CLIFTON, N.J., Jan 4, 2001 (BUSINESS WIRE) -- Tutogen Medical Inc. (AMEX: TTG), today announced that Sulzer Medica USA Holding Co., a subsidiary of Sulzer Medica Ltd., (NYSE: SM), a Swiss medical technology company, has become a significant shareholder of Tutogen Medical, Inc. In a press release made on December 27, 2000, Sulzer Medica announced the completion of its tender offer for 50% of the Trust Units of Capital Partners II which owns a majority of Tutogen's stock. By purchasing 50% of the Trust Units of Capital Partners, Sulzer Medica beneficially owns approximately 37% of Tutogen's common stock.
Thomas W. Pauken, Chairman of Tutogen Medical made the following comments, "We welcome this display of confidence by Sulzer Medica in the future prospects of Tutogen by their taking a significant minority position in our Company as we move towards becoming a major biologics company. At the same time, these actions allow Tutogen to maintain its independence and its entrepreneurial spirit which, under the leadership of our CEO, Manfred Krueger, has resulted in a significant turnaround of our Company's fortunes over the past eighteen months. With Sulzer Medica as a strategic partner, we look forward to greater successes in the future."
Tutogen Medical, Inc. utilizes its patented Tutoplast(R) process of tissue preservation and viral inactivation, to manufacture bioimplants for neurosurgical, orthopedic, reconstructive and general surgical indications. The Company's Tutoplast(R) products are sold and distributed worldwide by the Mentor Corporation (NMS: MNTR), Sulzer Medica (NYSE: SM), IOP, Inc. and through subsidiaries in the U.S. and Germany. |
