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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2009
Date:3/3/2010

    -   Presenting, comparing and assessing the financial results and
        forecasts reported to the Company's Board of Directors.
    -   Evaluating, managing and benchmarking the operating performance of
        the Company.
    -   Analyzing underlying trends in the Company's business.
    -   Evaluating market position and performance relative to our
        competitors, many of which use the same or similar performance
        measures.
    -   Establishing internal operating budgets.
    -   Determining compensation under bonus or other incentive programs.
    -   Enhancing comparability from period to period.
    -   Assessing compliance with credit facility covenants.
    -   Providing vital information in assessing cash flows to service our
        significant debt obligations.
    -   Comparing performance with internal forecasts and targeted business
        models.
    -   Evaluating and valuing potential acquisition candidates.

The adjustments used to compute our non-GAAP financial measures are consistent with those excluded from segmented operating results used by the Company's chief operating decision makers to make operating decisions and assess performance. We have provided this information to enable investors to analyze our operating results in the same way that management uses this information to assess our business relative to other periods, our business objectives and similar companies in our industry.

                       ANGIOTECH PHARMACEUTICALS, INC.
                       CALCULATION OF ADJUSTED EBITDA
                                 (Unaudited)

                              Three months ended                  Year ended
    (in thousands                    December 31,                December 31,
     
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SOURCE Angiotech Pharmaceuticals, Inc.
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