U.S. District Court Grants Patients Additional Time to Make
Decision Final Fairness Hearing Rescheduled for May 14, 2002
ZURICH, Switzerland, Jan. 4 /PRNewswire/ -- The following was released today by Sulzer Medica (NYSE: SM):
U.S. District Court Judge Kathleen O'Malley granted patients affected by hip or knee implants additional time to decide whether they wish to participate in the class action settlement. The opt-out deadline has been extended to May 2, 2002 while the Final Fairness Hearing is now scheduled to begin on May 14, 2002. The Final Notice, providing patients with terms of the Final Settlement Agreement, will be mailed to class action members on March 1, 2002.
"We welcome the extension of this deadline," said Sulzer Medica CEO Dr. Stephan Rietiker, "as it provides us with the opportunity to explain to patients the advantages of the settlement in greater detail, which will also help to further limit the number of opt-outs. It is still our goal to provide all affected patients with fair and fast compensation by way of this settlement."
Sulzer Medica's subsidiary companies develop, produce, and distribute medical implants and biological materials for cardiovascular and orthopedic markets worldwide. The product array includes artificial joint, vertebral, and dental implants, trauma products, heart valves, synthetic blood vessels and stents for vascular and non-vascular obstructions. (Swiss Stock Market symbol: SMEN, New York Stock Exchange symbol: SM).
THE SAFE HARBOR STATEMENTS UNDER THE U.S. PRIVATE SECURITIES LITIGATION REFORM ACT 1995
This report contains forward-looking statements including, but not limited to, projections of future performance of materials and products, financial conditions, results of operations and cash flows, containing risks and uncertainties. These statements are subject to change based on known risks detailed from time to time in the Company's Securities and Exchange Commission filings and other known and unknown risks and various other factors which could cause the actual results or performance to differ materially from the statements made herein.
This news release is available on the internet at: www.sulzermedica.com. The company's quarterly report is available on the Sulzer Medica corporate web site at www.sulzermedica.com "Investors" / "Financial reports".
SOURCE Sulzer Medica
/CONTACT: Media inquiries, Beatrice Tschanz, Corp. Communications, +41-1-308-38-66, or Mobile, +41-79-407-08-78, or fax, +41-1-308-35-06, or email@example.com, or Andy Bantel, Corporate Communications, +41-1-308-37-69, or Mobile, +41-79-231-56-62, or fax, +41-1-308-35-06, or Investor Relations, Michael Staheli, +41-1-308-38-64, or fax, +41-1-308-35-08, or firstname.lastname@example.org, or Investor Relations in the US, Jim Johnson, +1-713-561-63-76, or fax +1-713-561-63-80, or email@example.com, all of Sulzer Medica/
/Web site: http://www.sulzermedica.com /
CO: Sulzer Medica ST: Switzerland IN: MTC SU: LAW
-0- Jan/04/2002 16:49 GMT