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Bayer HealthCare Affiliate MEDRAD and Possis Medical Sign Definitive Merger Agreement
Date:2/11/2008

n of MEDRAD and Possis Medical will join two leaders in their respective fields, and underscores MEDRAD's commitment to the treatment of patients in the growing cardiovascular intervention field.

Cardiovascular disease remains one of the main causes of death and disability in the United States and Europe and it is estimated that in the United States alone, more than 80 million people are affected by some form of cardiovascular disease.

The combination of the two highly compatible sales organizations and shared target customer groups establishes a leading and expansive footprint in the cardiovascular intervention field and empowers the combined organization to offer a broader, more comprehensive suite of products and an exceptional level of service to its customers. MEDRAD's broad and proven international distribution infrastructure offers an exciting platform for the expansion of Possis Medical's product portfolio into attractive and largely underpenetrated international markets. The combination of Possis Medical's thrombectomy platform and MEDRAD's vascular injection systems offers a highly complimentary focus on high pressure intravascular fluid management and represents a broadened base for future development of new and innovative applications.

"This merger will capitalize on both companies' strengths to deliver growth in our current markets, and create a formidable cardiovascular portfolio in the future," said John P. Friel, MEDRAD President and CEO. "We welcome Possis Medical as the cornerstone of MEDRAD's cardiovascular strategy. It is a truly compatible partnership in terms of product performance, company growth and employee culture."

"Our shared history of innovation bodes well for product development beyond our core businesses, and provides tremendous opportunity for growth for our business and employees. In addition, MEDRAD will enable us to broaden our geographic reach without adding infrastructure. We look forward to joining t
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SOURCE Bayer HealthCare
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