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News

Cardinal Health bids to acquire Viasys Healthcare

Cardinal Health : 25 June, 2007  (New Product)
Cardinal Health has announced that more than 80 percent of the outstanding shares of Viasys Healthcare have been tendered in a move that reulst in Viasys becoming a majority owned subsidiary of Cardinal Health.
The initial offering period for the tender offer expired on June 20 2007 , with approximately 27.4 million shares of Viasys common stock being tendered, including approximately 3.2 million shares tendered under guaranteed delivery procedures, for $42.75 per share.

All shares that were validly tendered and not withdrawn have been accepted for purchase.

Cardinal Health expects to acquire the remaining shares and complete the acquisition by 30 June 2007.

'Now that Viasys is part of Cardinal Health, we are ready to move forward and bring our combined offerings to global customers', said R Kerry Clark, chief executive officer of Cardinal Health.

'Viasys is a great strategic fit with Cardinal Health that expands our global presence and provides a new channel to accelerate growth from our other core businesses'.

Upon completion of the merger, Viasys will become a wholly owned subsidiary of Cardinal Health.

The tender offer and merger plans were previously announced on 14 May 2007, in a transaction valued at approximately $1.5 billion including the assumption of outstanding debt.

Based in Conshohocken, Pennsylvania, Viasys had 2006 revenue of $610 million and is a leader in respiratory care, through the development and marketing of systems for critical care and diagnostic use.

Viasys also develops medical devices used in neurological, audio and vascular diagnostics, disposable medical products used in surgical procedures and enteral feeding, orthopaedic implants, and offers clinical services.

The acquisition of Viasys expands Cardinal Health's clinical and medical product offerings for global, acute-care customers and, will establish the company as a leader in the more than $4bn respiratory care market.

The business will be integrated into Cardinal Health's Medical Products Manufacturing segment.
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