DUBLIN, Ohio -- Cardinal Health, Inc., a leading provider of products and services supporting the healthcare industry, today announced the successful completion of its tender offer for all outstanding shares of common stock of ALARIS Medical Systems,
The tender offer and merger plans were previously announced on May 19, in
a transaction valued at about $2 billion, including the assumption of
outstanding debt. The acquisition of San Diego-based ALARIS extends Cardinal
Health's portfolio of market-leading products and services to healthcare
providers and increases its presence in strategic markets outside the U.S.
ALARIS develops and markets systems for the safe delivery of intravenous
medications, and holds long-term contracts to provide necessary, disposable
products for use in those systems. Revenues for ALARIS in 2003 totaled $533.9
As scheduled, the tender offer expired at midnight EDT on June 25. Equiserve Trust Company, N.A., the depositary for the offer, has advised Cardinal Health that 67,323,950 shares of ALARIS common stock were tendered into the offer and not withdrawn. In addition, 4,586,107 shares of ALARIS common stock were tendered into the offer by receipt of notices of guaranteed delivery. Together, this represents approximately 98.7
percent of the total number of ALARIS shares outstanding. All shares of
ALARIS common stock validly tendered and not properly withdrawn before the
expiration of the offering period have been accepted and will be purchased
promptly. All shares represented by notices of guaranteed delivery, which
were received by Cardinal Health before the expiration of the offering period,
will be purchased promptly after the shares are delivered.
Cardinal Health plans to complete the acquisition of the remaining ALARIS
shares by merging Blue Merger Corp., a wholly owned subsidiary of Cardinal
Health, with and into ALARIS. As a result of the merger, the remaining
outstanding shares of ALARIS common stock (except for shares held by Cardinal
Health, ALARIS or their subsidiaries) will be converted into the right to
receive $22.35 in cash, without interest.
Following the merger, Cardinal Health will send ALARIS stockholders who
did not tender their shares in the offer instructions as to how to exchange
their shares of ALARIS common stock into the cash merger consideration. Upon
completion of the merger, ALARIS will become a wholly owned subsidiary of
Cardinal Health, Inc. is a leading provider of products and services supporting the health care industry. Cardinal Health develops, manufactures, packages and markets products for patient care; develops drug-delivery technologies; distributes pharmaceuticals, medical, surgical and laboratory supplies; and offers consulting and other services
that improve quality and efficiency in healthcare.
Source: Cardinal Health