ABBOTT LABORATORIES TO ACQUIRE MEDISENSE, INC.
Abbott Part, Ill., and Waltham, Ma., March 29, 1996 -- Abbott Laboratories (NYSE: ABT) and MediSense,
Inc. (NASDAQ:MSNS) today announced that they have signed a definitive agreement through which Abbott will
acquire MediSense, the biosensor technology leader in blood glucose self-testing systems for people with
Under the terms of the agreement, Abbott will make a tender offer to acquire 100 percent of the outstanding
shares of MediSense for $45 per share, or an equity value of approximately $876 million. The Abbott and
MediSense boards of directors have endorsed the offer. The tender offer is expected to be completed in
approximately five weeks, subject to regulatory approvals and customary closing conditions. Following the tender
offer, MediSense will be merged into a wholly-owned subsidiary of Abbott Laboratories, and each remaining
MediSense shareholder will receive $45 per share in exchange for each MediSense share held.
"We are extremely pleased to add MediSense's superior technology and outstanding people to our company,"
said Duane L. Burnham, chairman and chief executive officer of Abbott Laboratories. "MediSense fits very well
with our diagnostics operations, and will create many opportunities for synergy with our other divisions as well."
According to Miles D. White, senior vice president, diagnostics operations, the acquisition advances Abbott's
interests in the glucose monitoring market. "This important strategic step, combined with other internal and
external initiatives to secure industry-leading technology in glucose monitoring, will position Abbott very favorably
in this market. In addition to providing immediate access to the fastest-growing segment of the diagnostics
market, MediSense's research and development program will augment our existing work to develop and
commercialize future non-invasive monitoring technologies," said White.
"We are delighted to become a part of the world's leading diagnostics company," s