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Soliciting Material Pursuant to
§240.14a-12
ORTHOFIX
INTERNATIONAL N.V.
(Name of
Registrant as Specified In Its Charter)
(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)
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|
Contact:
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Dan
Yarbrough, Vice President of Investor
Relations
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danyarbrough@orthofix.com
(617)
912-2903
Orthofix
International Makes Additional Partial Debt Repayment Ahead of
Maturity
Boston,
MA, – (BUSINESS WIRE)
– Mar 24, 2009 –
Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today
it made a $5 million debt prepayment in advance of the scheduled maturity,
permanently reducing its current credit facility by that amount.
Orthofix
Executive Vice President and Chief Financial Officer Bob Vaters stated,
“Consistent with our focus on deleveraging the balance sheet this was the third
debt repayment we have made ahead of scheduled maturities within the last four
months. It demonstrates not only our desire to continue reducing our
outstanding debt, but our improved cash generation over the last few
months. With the expected continuation of cash flow improvements we
will look for additional opportunities to pay down debt early, increasing the
Company’s flexibility to execute its operating plan.”
About
Orthofix
Orthofix
International, N.V., a global medical device company, offers a broad line of
minimally invasive surgical, and non-surgical, products for the spine,
orthopedic, and sports medicine market sectors that address the lifelong
bone-and-joint health needs of patients of all ages–helping them achieve a more
active and mobile lifestyle. Orthofix’s products are widely distributed around
the world to orthopedic surgeons and patients via Orthofix’s sales
representatives and its subsidiaries, including BREG, Inc. and Blackstone
Medical, Inc., and via partnerships with other leading orthopedic product
companies. In addition, Orthofix is collaborating in R&D partnerships with
leading medical institutions such as the Orthopedic Research and Education
Foundation, Rutgers University, Texas Scottish Rite Hospital for Children and
National Osteoporosis Institute. For more information about Orthofix, please
visit www.orthofix.com.
Forward-Looking
Statements
This
communication contains certain forward-looking statements under the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which may include, but are not limited to, statements concerning the
projections, financial condition, results of operations and businesses of
Orthofix and its subsidiaries and are based on management’s current expectations
and estimates and involve risks and uncertainties that could cause actual
results or outcomes to differ materially from those contemplated by the
forward-looking statements.
Factors
that could cause or contribute to such differences may include, but are not
limited to, risks relating to the expected sales of its products, including
recently launched products, unanticipated expenditures, changing relationships
with customers, suppliers and strategic partners, risks relating to the
protection of intellectual property, changes to the reimbursement policies of
third parties, changes to and interpretation of governmental regulation of
medical devices, the impact of competitive products, changes to the competitive
environment, the acceptance of new products in the market, conditions of the
orthopedic industry and the economy, corporate development and market
development activities, including acquisitions or divestitures, unexpected costs
or operating unit performance related to recent acquisitions and other factors
described in our annual report on Form 10-K and other periodic reports filed by
the Company with the Securities and Exchange Commission.
Important
Additional Information
Orthofix
International N.V. (“Orthofix”) has filed a definitive proxy statement, dated
February 26, 2009, with the SEC in connection with a special general meeting of
shareholders of Orthofix to be held on April 2, 2009 at which Ramius Capital and
certain of its affiliates propose to make changes to the composition of
Orthofix's board of directors. SHAREHOLDERS ARE URGED TO READ ORTHOFIX'S
DEFINITIVE PROXY MATERIALS AND ANY OTHER RELEVANT SOLICITATION MATERIALS FILED
BY ORTHOFIX WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors
and shareholders may obtain a free copy of the proxy statement and other
materials filed by Orthofix with the SEC at the SEC's website
at www.sec.gov, at Orthofix's website at www.orthofix.com, or by
contacting Georgeson, 199 Water Street, 26th Floor, New York, NY 10038 or by
calling (212) 440-9800 (bankers and brokers) or toll-free (800) 323-4133 (all
others).
Orthofix
and its directors and certain executive officers are participants in the
solicitation of proxies in connection with the special general meeting of
shareholders. The names of such persons are: James F. Gero, Peter J. Hewett,
Jerry C. Benjamin, Charles W. Federico, Dr. Guy J. Jordan, Ph.D., Thomas J.
Kester, CPA, Alan W. Milinazzo, Maria Sainz, Dr. Walter P. von Wartburg, Kenneth
R. Weisshaar, Robert S. Vaters, Michael Simpson, Bradley R. Mason, Raymond C.
Kolls, J.D., and Michael M. Finegan. Information regarding such participants, as
well as each such person's respective interests in Orthofix (whether through
ownership of Orthofix securities or otherwise), is set forth in Orthofix's
definitive proxy statement dated February 26, 2009, which may be obtained free
of charge at the SEC's website at www.sec.gov, Orthofix's website at
www.orthofix.com, or by contacting Georgeson, 199 Water Street, 26th Floor, New
York, NY 10038 or by calling (212) 440-9800 (bankers and brokers) or toll-free
(800) 323-4133 (all others).