Hansen Medical Announces Agreement in Principle to Settle Securities Class Action

Hansen Medical Announces Agreement in Principle to Settle Securities Class 
Action 
MOUNTAIN VIEW, CA -- (Marketwired) -- 05/08/13 --  Hansen Medical,
Inc. (NASDAQ: HNSN), a global leader in intravascular robotics, today
announced that the Company has reached an agreement in principle to
settle the consolidated securities class-action lawsuit related to
the restatement of Hansen Medical's financial statements that was
first announced in October 2009. Upon final court approval, all
defendants, including Hansen Medical, will receive a full and
complete release of all claims in the previously disclosed securities
class action. 
Under the terms of the proposed settlement, the plaintiffs will
receive an aggregate of $8.5 million, $4 million of which will be
funded in cash by Hansen Medical's insurers and other sources. The
Company will fund the remaining portion by issuing $4.25 million
worth of its common stock, the number of shares to be determined
based on the average closing price of the Company's stock for the 10
trading days preceding final court approval of the settlement of the
class action, and paying $250,000 in cash. The settlement agreement
contains no admission of liability by Hansen Medical or any other
defendant. The Company believes this settlement is in the best
interest of Hansen Medical and its stakeholders, as it eliminates the
uncertainties, burden and further expense associated with this
litigation. The settlement is subject to the satisfaction of various
conditions, including execution of final settlement documents and
approval by the United States District Court for the Northern
District of California, which the Company expects to receive within
approximately six months. 
Previously, in October 2011, the Company entered into a settlement
with the United States Securities and Exchange Commission (SEC) that
fully resolved the SEC investigation of Hansen Medical related to the
issues surrounding the October 2009 financial restatements. The
settlement with the SEC did not impose any monetary penalty or fine
on the Company. In accepting that settlement, the SEC recognized the
Company's remedial actions, including the change of personnel since
the events related to the restatement surfaced, and the substantial
cooperation Hansen Medical pr
ovided in connection with the SEC
investigation. 
About Hansen Medical, Inc.
 Hansen Medical, Inc., based in Mountain
View, California, is the global leader in intravascular robotics,
developing products and technology designed to enable the accurate
positioning, manipulation and control of catheters and catheter-based
technologies. The Company's Magellan(TM) Robotic System, Magellan
Robotic Catheter and related accessories, which are intended to
facilitate navigation to anatomical targets in the peripheral
vasculature and subsequently provide a conduit for manual placement
of therapeutic devices, have undergone both CE marking and 510(k)
clearance and are commercially available in the European Union, and
the U.S. In the European Union, the Company's Sensei(R) X Robotic
Catheter System and Artisan Control Catheter are cleared for use
during electrophysiology (EP) procedures, such as guiding catheters
in the treatment of atrial fibrillation (AF), and the Lynx(R) Robotic
Ablation Catheter is cleared for the treatment of AF. This robotic
catheter system is compatible with fluoroscopy, ultrasound, 3D
surface map and patient electrocardiogram data. In the U.S. the
Company's Sensei X Robotic Catheter System and Artisan Control
Catheter were cleared by the U.S. Food and Drug Administration for
manipulation and control of certain mapping catheters in EP
procedures. In the United States, the Sensei System is not approved
for use in guiding ablation procedures; this use remains
experimental. The U.S. product labeling therefore provides that the
safety and effectiveness of the Sensei X System and Artisan Control
Catheter for use with cardiac ablation catheters in the treatment of
cardiac arrhythmias, including AF, have not been established.
Additional information can be found at www.hansenmedical.com. 
Forward-Looking Statements
 This press release contains
forward-looking statements regarding, among other things, statements
relating to goals, plans, objectives, milestones and future events.
All statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements, including
statements containing the words "plan," "expects," "potential,"
"believes," "goal," "estimate," "anticipates," and similar words.
These statements are based on the current estimates and assumptions
of our management as of the date of this press release and are
subject to risks, uncertainties, changes in circumstances and other
factors that may cause actual results to differ materially from the
information expressed or implied by forward-looking statements made
in this press release. Examples of such statements include statements
about the expectation that the class action will be resolved on the
terms described. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements include, among others, failure of the parties to execute
final settlement agreements, or of the court to approve the
settlement, delays in approval of the settlement, and other risks
more fully described in the "Risk Factors" section of our Annual
Report on Form 10-K for the year ended December 31, 2012 filed with
the SEC on March 18, 2013 and the risks discussed in our other
reports filed with the SEC. Given these uncertainties, you should not
place undue reliance on the forward-looking statements in this press
release. We undertake no obligation to revise or update information
herein to reflect events or circumstances in the future, even if new
information becomes available.  
Hansen Medical, Heart Design (Logo), Hansen Medical (with Heart
Design), Sensei and Lynx are registered trademarks, and Magellan is a
trademark of Hansen Medical, Inc. in the United States and other
countries. 
Investor Contacts: 
Peter J. Mariani 
Chief Financial Officer 
Hansen Medical, Inc. 
650.404.5800 
FTI Consulting, Inc.
Brian Ritchie
212.850.5683 
brian.ritchie@fticonsulting.com  
John Capodanno
212.850.5705
John.capodanno@fticonsulting.com 
 
 
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