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Endologix Completes Acquisition of Nellix
Date:12/13/2010

IRVINE, Calif., Dec. 13, 2010 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, announced today that it has completed the acquisition of Nellix, Inc.  Nellix has developed a revolutionary new device for the treatment of Abdominal Aortic Aneurysms (AAAs) that is expected to address the limitations of existing endovascular aneurysm repair (EVAR) devices and expand the global AAA market. Endologix announced its agreement to acquire Nellix on October 27, 2010.

John McDermott, Endologix President and Chief Executive Officer, said, "The talented team at Nellix has developed a unique technology that has the potential to become the new standard of care for abdominal aneurysm repair.  We believe that this acquisition combined with our existing and other new products in development give Endologix the most innovative pipeline of aortic endovascular devices in the industry.  We look forward to expanding the EVAR market and providing physicians with more treatment options for their patients."

In conjunction with the acquisition of Nellix, Endologix completed the previously announced private placement offering of common stock to Essex Woodlands Health Ventures which resulted in net proceeds to Endologix of $15.0 million.  Endologix intends to use the proceeds from the private placement to integrate the Nellix technology, to conduct clinical studies, to begin establishing a direct sales force in Europe, to provide working capital and for general corporate purposes.  

The private placement was made only to an accredited investor in accordance with Section 4(2) under the Securities Act of 1933 and the rules and regulations promulgated thereunder. The securities sold in the private placement have not been registered under the Securities Act of 1933 or any state securities laws and u
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SOURCE Endologix, Inc.
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