LifeStream International Announces Letter Of Intent to Acquire Polystan AS of Denmark

Haverhill, Mass. (PROTEXT) - LifeStream International, Inc., a leading global cardiopulmonary products company, today announced it has signed a letter of intent to acquire Polystan AS, a manufacturer and marketer of a wide range of cardiopulmonary products headquartered in Vaerloese, Denmark. Terms of the transaction, which is expected to close during the first quarter of 2000, were not disclosed. "With the acquisition of Polystan, LifeStream will offer a broader and deeper product line that enhances our global leadership position," said Robert W. Kleinert Jr., LifeStream's president and chief executive officer. "This expanded product line, featuring new and complementary products, will differentiate LifeStream further in the market. Polystan also adds new research and development capabilities to our company. "This acquisition will help our European operations significantly and offer several new products for our North American customers," Kleinert said. "We also expect to leverage Polystan's technology in improving our products and enhancing our manufacturing capabilities." Polystan, one of the oldest cardiopulmonary products companies, is known in the industry for innovation since founding in 1958. The company is one of the leading marketers of oxygenators for the neonatal and pediatric markets, vacuum assisted venous drainage controllers, and sensors and monitors. Polystan's products also include adult oxygenators, custom tubing packs and cannulae products. Polystan employs approximately 120 persons and has production, distribution and marketing offices in Denmark, the U.K. and The Netherlands. Polystan managing director Henning Larsen will take an active role with LifeStream, Kleinert said, particularly in the area of product development. Polystan will also occupy a seat on the LifeStream board of directors. LifeStream International markets a range of blood-circulation and oxygenation devices and related products, including oxygenators, custom tubing packs, hemoconcentrators, blood filters, reservoirs, cardioplegia products, cannulae and catheters. It is the largest company in the industry solely dedicated to cardiopulmonary products. Following the completion of the Polystan acquisition, more than half of LifeStream's revenue, which is estimated to reach approximately $100 million in 2000, will be derived from outside the United States. The company currently employs approximately 400 people and has manufacturing facilities in the United States, Mexico and Germany. LifeStream International was formed in July 1999 by the partnership of Banc One Equity Capital (formerly First Chicago Equity Capital) and Garrett Capital Advisors LLC through the acquisition of the assets of the cardiopulmonary products division of C.R. Bard, Inc. (NYSE: BCR), Surgimedics, Inc. and certain assets of the cardiosurgery business of Minntech Corporation (Nasdaq: MNTX). The formation of LifeStream International was the partnership's first transaction. Banc One Equity Capital and Garrett Capital Advisors created the partnership to pursue investments in health care and life sciences. Specific fields of interest within the medical devices, analytical instruments and clinical diagnostic equipment markets include cardiovascular medicine, urology, surgical instruments and devices, orthopedics and blood products. ots Original Text Service: LifeStream International, Inc. Internet: http://www.newsaktuell.de Contact: Fred Nachman, ext. 202, or Sarah Smith, ext. 208, both of Corporate.Technology Communications, Inc., (USA) 312-832-9300 ---------+---------+- --------+---------+---------+---------+--------- News Aktuell Tel.: +49 40 4113-2866 ---------+---------+---------+---------+- --------+---------+--------- Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT