Cytyc-acquired Adeza Biomedical to operate under new name

By Lisa Kerner

Charlotte, N.C., April 3 - Cytyc Corp.'s wholly owned subsidiary, Augusta Medical Corp., completed the merger with and into Adeza Biomedical Corp. following the completed $24.00 per share tender offer.

Adeza will continue as the surviving corporation operating under the name Cytyc Prenatal Products Corp. and as a wholly owned subsidiary of Cytyc, according to a company news release.

On Monday, the Cytyc said that in the subsequent offering period ended on March 30, 16,816,572, or about 96%, of Adeza's issued and outstanding shares were validly tendered and accepted for payment. The initial tender offer period expired on March 16.

The $452 million transaction was first announced in February.

"As previously stated, we expect this acquisition to be break-even to earnings in 2007 and at least $0.05 accretive to 2008 diluted earnings per share," Cytyc chairman, president and chief executive officer Patrick J. Sullivan said in the release.

Cytyc is a Marlborough, Mass.-based medical device company.

Adeza's key product is FullTerm, the Fetal Fibronectin Test, which is used to identify women at risk of preterm birth. The company is located in Sunnyvale, Calif.

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