Fourth Annual General Meeting of Sulzer Medica Ltd: Sulzer Medica shareholders approve Board proposals

Apr 20, 2001, 01:00 ET from Sulzer Medica

    WINTERTHUR, Switzerland, April 20 /PRNewswire/ -- At Sulzer Medica's
 (NYSE:   SM) (Swiss Stock Exchange: SMEN) fourth Annual General Meeting (AGM)
 today, the 640 shareholders present (representing 79.1% of share capital)
 approved all proposals on the agenda.  The Chairman of the Board Dr. Max Link
 and CEO Andre P. Buchel welcomed yesterday's decision of the Sulzer AG
 shareholders to spin off Sulzer Medica and reiterated once more that the
 company has acted responsible and fast with regard to the recall of its
 Inter-Op hip shells.
     The Board proposal for the appropriation of the net profit and the payout
 of a gross dividend of CHF 6.- per share was approved.  The Annual General
 Meeting likewise approved the Annual Report and the Consolidated Accounts of
 Sulzer Medica.  The Board of Directors and the members of the executive
 management were discharged of responsibility in respect of their activities in
 the 2000 business year.  PricewaterhouseCoopers Ltd was appointed as Statutory
 Auditor to the Company and as Group Auditor for 2001.
     In his speech to the shareholders Dr. Max Link welcomed yesterday's
 decision of the Sulzer shareholders to spin off Sulzer Medica: "We assume the
 spin-off to take place in summer this year.  This will be advantageous to
 Sulzer Medica because we will be traded at the stock market as a company
 clearly focused on medical devices.  Additionally, our free float of today
 24% will increase to close to 100%.  This should benefit our share price
 development."
     Andre P. Buchel confirmed in his presentation to the shareholders the
 company's position with regard to the Inter-Op recall:  "We have acted
 responsible and fast once we received first reports of orthopedic surgeons
 that they were tracking patients with Inter-Op hip shells.  We initiated
 immediately thorough investigations and once we learned that a product failure
 was the cause of the problem, we instantly recalled the product.  Claims of
 possible negligence in this regard are entirely unjustified."
     Headquartered in Winterthur, Switzerland, Sulzer Medica develops,
 manufactures and markets implantable medical devices and biological products
 for cardiovascular and orthopedic markets worldwide.  The Company's product
 offering includes joint prostheses, spinal implants, dental implants, trauma
 surgery products, heart valves, and vascular grafts.
 
     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.
 
     The press release is available on internet:
 http://www.sulzermedica.com/media/mainpage.htm
 
 

SOURCE Sulzer Medica
    WINTERTHUR, Switzerland, April 20 /PRNewswire/ -- At Sulzer Medica's
 (NYSE:   SM) (Swiss Stock Exchange: SMEN) fourth Annual General Meeting (AGM)
 today, the 640 shareholders present (representing 79.1% of share capital)
 approved all proposals on the agenda.  The Chairman of the Board Dr. Max Link
 and CEO Andre P. Buchel welcomed yesterday's decision of the Sulzer AG
 shareholders to spin off Sulzer Medica and reiterated once more that the
 company has acted responsible and fast with regard to the recall of its
 Inter-Op hip shells.
     The Board proposal for the appropriation of the net profit and the payout
 of a gross dividend of CHF 6.- per share was approved.  The Annual General
 Meeting likewise approved the Annual Report and the Consolidated Accounts of
 Sulzer Medica.  The Board of Directors and the members of the executive
 management were discharged of responsibility in respect of their activities in
 the 2000 business year.  PricewaterhouseCoopers Ltd was appointed as Statutory
 Auditor to the Company and as Group Auditor for 2001.
     In his speech to the shareholders Dr. Max Link welcomed yesterday's
 decision of the Sulzer shareholders to spin off Sulzer Medica: "We assume the
 spin-off to take place in summer this year.  This will be advantageous to
 Sulzer Medica because we will be traded at the stock market as a company
 clearly focused on medical devices.  Additionally, our free float of today
 24% will increase to close to 100%.  This should benefit our share price
 development."
     Andre P. Buchel confirmed in his presentation to the shareholders the
 company's position with regard to the Inter-Op recall:  "We have acted
 responsible and fast once we received first reports of orthopedic surgeons
 that they were tracking patients with Inter-Op hip shells.  We initiated
 immediately thorough investigations and once we learned that a product failure
 was the cause of the problem, we instantly recalled the product.  Claims of
 possible negligence in this regard are entirely unjustified."
     Headquartered in Winterthur, Switzerland, Sulzer Medica develops,
 manufactures and markets implantable medical devices and biological products
 for cardiovascular and orthopedic markets worldwide.  The Company's product
 offering includes joint prostheses, spinal implants, dental implants, trauma
 surgery products, heart valves, and vascular grafts.
 
     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.
 
     The press release is available on internet:
 http://www.sulzermedica.com/media/mainpage.htm
 
 SOURCE  Sulzer Medica