EATONTOWN, N.J., Aug. 18 /PRNewswire-FirstCall/ --Osteotech, Inc.
(Nasdaq: OSTE), a leader in the emerging field of biologic products
for regenerative healing, announced today that it has postponed its
2010 Annual Meeting of Stockholders, originally scheduled for
9:00 a.m. on Monday, August 23, 2010. The postponement
was made in light of the announcement on August 17, 2010 disclosing that Osteotech has
entered into a definitive merger agreement to be acquired by
Medtronic, Inc. Osteotech expects to schedule a special
meeting of stockholders as soon as possible to approve the merger.
If the merger is not completed, Osteotech intends to
reschedule its 2010 Annual Meeting of Stockholders and notify
stockholders of the date, time and location of the rescheduled
meeting.
About Osteotech
Osteotech, Inc., headquartered in Eatontown, New Jersey, is a global leader in
providing biologic solutions for regenerative medicine to support
surgeons and their patients in the repair of the musculoskeletal
system through the development of innovative therapy-driven
products that alleviate pain, promote biologic healing and restore
function. For further information regarding Osteotech, please
go to Osteotech's website at www.osteotech.com.
Cautionary Statement Regarding Forward-Looking
Information
Certain statements made throughout this press release that are
not historical facts are forward-looking statements (as defined in
the Private Securities Litigation Reform Act of 1995) regarding
Osteotech's future plans, objectives and expected performance.
Any such forward-looking statements are based on assumptions
that Osteotech believes are reasonable, but are subject to a wide
range of risks and uncertainties and, therefore, there can be no
assurance that actual results may not differ materially from those
expressed or implied by such forward-looking statements, including
but not limited to the risk that the acquisition of Osteotech by
Medtronic will not close as the transaction is subject to certain
closing conditions, such as the ability to obtain regulatory
approvals of the proposed acquisition, including antitrust
approval, and the approval of the transaction by Osteotech's
stockholders. Factors that could also cause actual results to
differ materially include, but are not limited to, Osteotech's
ability to develop and introduce new products, differences in
anticipated and actual product and service introduction dates, the
ultimate success of those products in the marketplace, the
continued acceptance and growth of current products and services,
the impact of competitive products and services, the availability
of sufficient quantities of suitable donated tissue and the success
of cost control and margin improvement efforts. For a more
detailed discussion of certain of these factors, see Osteotech's
periodic reports filed with the Securities and Exchange Commission
from time to time, including the latest Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q. All information in
this press release is as of August 18,
2010 and Osteotech does not intend to update this
information.
SOURCE Osteotech, Inc.
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