Angiotech announces return of capital to common shareholders

         Angiotech announces return of capital to common shareholders

PR Newswire

VANCOUVER, May 31, 2013

VANCOUVER, May 31, 2013 /PRNewswire/ - Angiotech Pharmaceuticals, Inc.
("Angiotech") announced today that a return of capital will be provided to all
holders of record, as at May 31, 2013, of its common shares, and to employees
holding restricted share units, in the amount of $6 in cash per common share,
or per restricted share unit.

The amount to be distributed reflects  a substantial portion of the  remaining 
net proceeds  received to  date per  Angiotech's recently  completed sale,  as 
announced on April 15, 2013, of its Interventional Products business to  Argon 
Medical Devices,  Inc.,  after  the redemption  of  $60,024,000  in  aggregate 
principal amount of Angiotech's Senior  Secured Floating Rate Notes due  2013, 
the redemption of $229,413,000 in aggregate principal amount of Angiotech's 9%
Senior Notes  Due  2016, and  the  payment  of certain  transaction  fees  and 
expenses.

Amounts to be distributed will be provided in the form of a physical check,
and will be mailed on June 6, 2013 to shareholders of record as of May 31,
2013 with a payment date of June 10, 2013.

Upon conclusion of the return of capital to shareholders, Angiotech expects to
have approximately  $10  million  in  cash, restricted  cash  and  short  term 
investments as at May 31, 2013, and no outstanding long-term debt.

Forward Looking Statements
Statements contained in this press release that are not based on historical
fact, including without limitation statements containing the words "believes,"
"may," "plans," "will," "estimates," "continues," "anticipates," "intends,"
"expects" and similar expressions, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
constitute "forward-looking information" within the meaning of applicable
securities laws. All such statements are made pursuant to the "safe harbor"
provisions of applicable securities legislation. For a more thorough
discussion of the risks associated with our business, see the "Risk Factors"
section in our annual report for the year ended December 31, 2012 filed with
the SEC on March 28, 2013 on Form 10K.

Given  these  uncertainties,  assumptions  and  risk  factors,  investors  are 
cautioned not  to place  undue reliance  on such  forward-looking  statements. 
Except as  required by  law, we  disclaim any  obligation to  update any  such 
factors or to  publicly announce the  result of  any revisions to  any of  the 
forward-looking statements contained in this  press release to reflect  future 
results, events or developments.

©2013 Angiotech Pharmaceuticals, Inc. All Rights Reserved.

About Angiotech
Angiotech develops, manufactures and markets medical device products and
technologies, primarily within the areas of wound closure and ophthalmology.
Our strategy is to utilize our precision manufacturing capabilities and our
highly targeted sales and marketing capabilities to offer novel or
differentiated medical device products to patients, physicians and other
medical device manufacturers or distributors.

SOURCE Angiotech Pharmaceuticals, Inc.

Contact:

Investor Relations and Corporate Communications
Angiotech Pharmaceuticals, Inc.
(604) 221-6933
ir@angio.com
 
Press spacebar to pause and continue. Press esc to stop.