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Base Ten Systems Completes Acquisition of Almedica Technology Group From Almedica International
Business Wire, June 15, 1999
TRENTON and WALDWICK, N.J.--(BW HealthWire)--June 15, 1999--
-- Transaction Creates First Company to Offer a Fully Integrated
Clinical Supply Chain Management Solution --
Base Ten Systems, Inc. (Nasdaq: BASEA) and Almedica International Inc. today announced the completion of Base Ten's acquisition of Almedica Technology Group (ATG), a wholly owned subsidiary of Almedica International.
The transaction will strengthen Base Ten's position in the clinical supplies market and establish Base Ten as the first company to offer a fully integrated clinical supply chain management solution that includes inventory control, electronic batch records, manufacturing automation, trial design, labeling, packaging, randomization distribution and return management.
This transaction was first announced on March 23, 1999.
Thomas E. Gardner, chairman and chief executive officer of Base Ten Systems, said: "Our acquisition of Almedica Technology Group will secure Base Ten's leadership in clinical supplies management solutions, enabling us to serve our customers more broadly, and helping them bring pharmaceutical products to market more quickly. ATG's expertise is well-recognized and we look forward to working together to create value for all of our shareholders."
Clark L. Bullock, chairman of Almedica International Inc., said: "This transaction is an important step for both Almedica and Base Ten. Each company will be better positioned to focus on core competencies -- Almedica International as a global clinical trials material (CTM) specialist and Base Ten as a software technology development corporation -- to most effectively service our customers. We wish the new Base Ten much success in all of its activities."
Under the terms of the transaction, Base Ten is acquiring ATG for 3.95 million newly issued Base Ten shares. Robert J. Bronstein, formerly president of ATG, is becoming president of the Base Ten Applications Software Division.
As previously announced, Base Ten is licensing its integrated clinical supply management solution to the three clinical packaging sites of Almedica International: Waldwick, N.J., Deeside, U.K., and Reinach, Switzerland, as well as clinical materials logistics software to Almedica's newest unit in Mannheim, Germany, Almedica GMBh-.
Base Ten Systems is a software technology development company focused on manufacturing execution systems and services for the pharmaceutical, chemicals and medical products industries. Through installation of BASE10(TM) software, the Company's customers around the world can enjoy more effective regulatory compliance, improved manufacturing flexibility and reduced production cycle time.
BASE10(TM) execution systems are readily integrated with complementary software partners as manufacturers consolidate their operations into global supply chain processes. Learn more about Base Ten Systems by visiting its web site at www.base10.com.
Forward-Looking Statements Regarding Base Ten Systems
The foregoing contains "forward-looking information" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by the letter ("a") or by such forward-looking terminology as "may", "will", "believe", "anticipate", "expect", or similar words or variations thereof.
Such forward-looking statements involve certain significant risks and uncertainties.
Important factors that the Company believes may cause actual results to differ materially from such forward-looking statements are discussed in the "Risk Factors," "Business" and "MD&A" sections of the Company's current S-3 registration statements and annual and quarterly reports on file with the Securities and Exchange Commission.
Additional risk factors include the effectiveness of software and the ability of software to operate without "bugs" in the technology and acceptance of the release by customers and actual rollout. In assessing such forward-looking statements, investors are urged to read carefully those reports and other filings.
The Company does not undertake to publicly update or revise its forward-looking statements, even if experience or future changes indicate that any such results or event (expressed or implied) will not be realized.
COPYRIGHT 1999 Business Wire
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