Apria Healthcare Group Inc. Notifies the NYSE of Scheduled Closing Date

Apria Healthcare Group Inc. (NYSE:AHG) today announced that it has notified the New York Stock Exchange (the "NYSE") that the proposed merger of Sky Merger Sub Corporation, a Delaware corporation and a wholly-owned subsidiary of an affiliate of The Blackstone Group (NYSE: BX), with and into Apria Healthcare Group Inc. pursuant to the terms of the merger agreement dated as of June 18, 2008, is scheduled to close later today, subject to the consummation of Sky Merger Sub Corporation's financing. Apria will provide further notice upon closing of the merger.

As a result of the merger, Apria's common stock, par value $0.001 per share, will be delisted from the NYSE and will cease to be publicly traded. At the effective time of the merger each outstanding share of Apria's common stock will be converted into the right to receive $21.00 in cash, without interest and less applicable withholding taxes.

Published: 28 October 2008
Written by Editor
NYSE   Healthcare   M & A   Up on News  
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Endocare and Former CEO Paul W. Mikus Agree to Terminate Indemnification Agreement

Endocare, Inc. (Nasdaq: ENDO), an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation, announced today that it has entered into an agreement with its former CEO Paul W. Mikus that terminates Mr. Mikus' indemnification agreement in exchange for Endocare's waiver of certain severance and legal fee reimbursement rights. As a result of this new agreement, Endocare is no longer obligated to pay any future legal costs for Mr. Mikus.

Endocare CFO Michael R. Rodriguez said, "This agreement brings to a close our indemnification of former management and a long, expensive chapter for Endocare. It finally and immediately ends what has been a significant expense and allows management to focus more completely on building our business."

Published: 15 October 2008
Written by Editor
Nasdaq   Healthcare   Up on News  
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Cardica Receives 510(k) Clearance to Market PAS-Port(R) Proximal Anastomosis System for Use in Cardiac Bypass Surgery

 Cardica, Inc. (Nasdaq: CRDC) today announced that the U.S. Food and Drug Administration (FDA) has granted the company 510(k) clearance to market its PAS-Port(R) Proximal Anastomosis System for use in cardiac bypass surgery. The PAS-Port system creates a secure connection, or anastomosis, between a vein graft and the aorta, the main artery in the human body, during coronary artery bypass grafting (CABG) procedures. Currently available in Japan and Europe, where it has been used more than 8,800 times, the PAS-Port system is now commercially available by Cardica in the United States.

Published: 09 September 2008
Written by Editor
Nasdaq   Healthcare   FDA HC Decision  
Read more: Cardica Inc ( CRDC )