Carl Zeiss Meditec AG

M&A Activity • Jun 25, 2002

News Details

Ad-hoc | 25 June 2002 06:30

Asclepion-Meditec AG english

Merger of Asclepion Meditec and Carl Zeiss Ophthalmic in its final stages Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– —Possible value adjustment risks will be eliminated—Changes in management team In the course of the merger of Carl Zeiss Ophthalmic Systems AG with Asclepion- Meditec AG (Securities ID No. 531370) – which is progressing according to schedule – in consultation with the merger partners the company plans to make value adjustments of approx. euro 10 million at Asclepion-Meditec AG to allow for the changed strategy as a result of the merger. For the main part, the latter relates to the write-down of its investments in U.S. Medical and Icon, which will only be of minor significance for the future operations of Carl Zeiss Meditec AG. Incidental to the changed strategy, there is to be a value adjustment of certain items under receivables and inventories. The risks ensuing from these value adjustments were already taken into account within the scope of the mutually agreed evaluation process. These measures have no influence on the results shown in the consolidated report of the merged company Carl Zeiss Meditec AG, which is due to be recorded in the commercial register at the beginning of July. With this procedure Asclepion will eliminate existing potential risk items which to a large part were already adjusted at the end of the financial year 2000/2001. “With this step in the merger process Asclepion Meditec is well set for the transfer to the new medical technology company Carl Zeiss Meditec AG, from which I will be resigning at the beginning of July,” says Dr. Bernhard Seitz, Chairman of the Board of Asclepion-Meditec AG. “In the near future, however, I will continue to be available to the company as a consultant.” The appointment of the new Management Board and distribution of departmental responsibilities is to be dealt with at the constituent meeting of the Supervisory Board on 8 July 2002. The management team will consist of the following: Ulrich Krauss (38), currently Head of the Surgical Devices Section of the Carl Zeiss Medical Technology Division, Dr. Walter-Gerhard Wrobel (49), currently a Board Member of Carl Zeiss Ophthalmic Systems AG, Jena, Bernd Hirsch (32), currently Head of Corporate Mergers & Acquisitions at Carl Zeiss, and Dr. Michael Dettelbacher, currently Director of Finance at Asclepion Meditec AG. Contact: Asclepion-Meditec AG, IR, Jens Brajer, Phone: +49 (3641) 220105 end of ad-hoc-announcement (c)DGAP 25.06.2002 ——————————————————————————– WKN: 531 370; ISIN: DE0005313704; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 250630 Jun 02