"Additionally, during fiscal 2007 we strengthened the infrastructure of the Company by completing the expansion of our tissue processing facilities in Germany and in the U.S., we expanded our tissue sourcing capabilities and we raised the appropriate amount of capital that significantly improved our balance sheet to ensure that Tutogen has the financial wherewithal to continue to effectively execute on our strategic business plan."
Mr. Mayer concluded, "As it relates to the recently announced agreement to merge with Regeneration Technologies, Inc. which is expected to close in March 2008, we believe that the combined company will be the leading provider of sterile biologic solutions for patients around the world. Together with Regeneration Technologies, we will be able to address an even broader range of medical specialties with a diversified mix of implants with industry leading distribution partners. We are very excited with the opportunities ahead for the new combined company. There exists a compelling strategic fit with highly complementary product lines and distributor mix, increasing growth and diversification. With the $5-6 million of identified cost synergies, revenue enhancement and upside opportunities with increased tissue sourcing capabilities, we expect that the combined company will deliver increased earnings to our shareholders."
Tutogen Medical will conduct a conference call on Monday, December 10,
2007, beginning at 4:30 p.m. ET to review the results of the fourth quarter
and year end. Interested parties can access the call by dialing (888)
408-9532 or (706) 679-5064 or by accessing the web cast at
http://www.tutogen.com/investor.aspx. A replay of the call will be
available at (800) 642-1687 or (706) 645-9291, conference ID number:
19673685 for 3 days following the call, and the web cast can be accessed at
|SOURCE Tutogen Medical, Inc.|
Copyright©2007 PR Newswire.
All rights reserved