TomTec Imaging System's Senior Management Acquires Outstanding Shares from Kretztechnik AG, Austria

Business Wire, July 4, 2002

Business Editors, Health/Medical Writers

Retrospectively, January 1, 2002, TomTec's senior management was able to acquire outstanding shares held by Kretztechnik AG, Austria.

With the acquisition of the shares, the senior management is able to demonstrate its trust and confidence into TomTec's business strategy and the growth of the company.

After a management buyout in 1997, TomTec Imaging Systems GmbH, decided on taking Kretztechnik AG as a shareholder for their board. At the beginning of the collaboration Kretztechnik AG held 33.33% of TomTec's shares. As of early 2000, all but 7.2% of Kretztechnik's shares were sold to ABN AMRO Ventures B.V., Netherlands. After GE Medical Systems (NYSE:GE) acquired Kretztechnik AG, TomTec was put into a competitive scenario. At this point, TomTec's senior management started to negotiate the acquisition of the outstanding shares and has now successfully completed these transactions.

"With this acquisition, the four active shareholders Holger Frank, Bernhard Mumm, Frank Schlau und Ulrich Haupt, set an example and place another milestone in further developing TomTec's leading role as a global player. With this transition completed, the TomTec Senior management has possession of 44.31% of the shares and TomTec employees hold 2.14% shares," states Ulrich Haupt, TomTec's CEO & CFO.

TomTec Imaging Systems GmbH is a global provider in the area of 2D-, 3D- and 4D- solutions for medical ultrasound. TomTec offers its easy-to-use technology to clinicians and industry partners worldwide. TomTec solutions improve the condition of medical ultrasound data and thus, increase the quality and quantity of diagnostic information. The technology is applicable for most commercially available ultrasound equipment. TomTec has protected its base technologies with an extensive patent portfolio. After the merger with Individual Software GmbH in 2000, TomTec's product line includes state-of-the-art solutions for management, archiving, quantification and reporting of ultrasound data.