- Boston Scientific to sell its remaining shares of Aspect Common
Stock to a third party -
NORWOOD, Mass.--(BUSINESS WIRE)--Nov. 8, 2007--Aspect Medical
Systems, Inc. (NASDAQ: ASPM) announced today that it has entered into
a letter agreement with Boston Scientific Corporation pursuant to
which Aspect has agreed to waive specified provisions of the
termination and repurchase agreement entered into by the parties on
June 11, 2007. Pursuant to the repurchase and termination agreement,
Boston Scientific agreed, among other things, that for a period of 180
days after the date of the agreement, it would not sell any of its
shares of Aspect Common Stock to a third party, and Boston Scientific
granted to Aspect a call option, exercisable by Aspect in one or more
transactions during the 180-day period, to purchase up to all of the
remaining shares of Aspect Common Stock held of record by Boston
Scientific on the date of the agreement. Aspect has agreed to waive
the lock-up and the call option set forth in the agreement with
respect to the remaining 1,513,239 shares of Aspect Common Stock
currently held of record by Boston Scientific because Boston
Scientific and a third party, OrbiMed Advisors LLC, have reached an
agreement pursuant to which OrbiMed will purchase all of such shares.
The parties have also agreed to terminate the registration rights
agreement dated as of June 11, 2007 by and between Aspect Medical and
Boston Scientific relating to such shares.
About the Company
Aspect Medical Systems, Inc. (NASDAQ: ASPM) is a global market
leader in brain monitoring technology. To date, the Company's
Bispectral Index (BIS) technology has been used to assess
approximately 23 million patients and has been the subject of more
than 3,100 published articles and abstracts. BIS technology is
installed in approximately 80 percent of hospitals listed in the July
2007 U.S News and World Report ranking of America's Best Hospitals and
in approximately 60 percent of all U.S. operating rooms. In the last
twelve months BIS technology was used in approximately 17 percent of
all U.S. surgical procedures requiring general anesthesia or deep
sedation. BIS technology is available in more than 160 countries.
Aspect Medical Systems has OEM agreements with nine leading
manufacturers of patient monitoring systems.
Safe Harbor Statement
Certain statements in this release are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995 and
may involve risks and uncertainties. There are a number of important
factors that could cause actual results to differ materially from
those indicated by these forward-looking statements, including those
factors described under the heading "Risk Factors" in the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2007,
which is on file with the SEC.
In addition, the statements in this press release represent the
Company's expectations and beliefs as of the date of this press
release. The Company anticipates that subsequent events and
developments may cause these expectations and beliefs to change.
However, while the Company may elect to update these forward-looking
statements at some point in the future, it specifically disclaims any
obligation to do so. These forward-looking statements should not be
relied upon as representing the Company's expectations or beliefs as
of any date subsequent to the date of this press release.
For further information regarding Aspect Medical Systems, Inc.,
visit the Aspect Medical Systems website at www.aspectmedical.com.
CONTACT: Aspect Medical Systems, Inc.
Mike Falvey, 617-559-7363
VP, CFO
or
Emily Anderson, 617-559-7032
Media Relations
SOURCE: Aspect Medical Systems, Inc.
