Resmed Inc – ‘8-K’ for 2/16/01 – EX-99.1

On:  Friday, 3/2/01, at 4:55pm ET   ·   For:  2/16/01   ·   Accession #:  1017062-1-456   ·   File #:  1-15317

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     13K 
 2: EX-2.1      Sale and Assignment Agreement                         19     58K 
 3: EX-99.1     Press Release Dated 2/19/2001                          2     11K 

EX-99.1   —   Press Release Dated 2/19/2001

EX-99.1
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                                                                    EXHIBIT 99.1

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RESMED ACQUIRES SHARES OF LEADING GERMAN SLEEP COMPANY, MAP GMBH
------------------------------------------------------------------------------- 

SAN DIEGO, California, February 19, 2001...ResMed Inc. (NYSE:RMD) announced     
today that it has acquired all of the outstanding shares of MAP Medizin-        
Technologie GmbH, Munich, Germany.  The total transaction is valued at DEM 146  
million (approximately US$ 69 million) to be paid in cash and the assumption of 
debt.  MAP, with revenues in excess of DEM 52 million (approximately US$ 25     
million) for the year ended December 31, 2000, designs, manufactures and        
distributes medical devices for the diagnosis and treatment of sleep-disordered 
breathing (SDB) with a particular focus on obstructive sleep apnea.  MAP has    
built a leadership position in the German market and has expanded to surrounding
countries where it has subsidiaries in Austria, Holland, Switzerland, and       
France.  MAP has approximately 180 employees.                                   

Christopher Roberts, Ph.D., Executive Vice-President of ResMed Inc., commented: 
"Germany is the second largest SDB market in the world, and MAP is the market   
leader in Germany with both its diagnostic and treatment devices.  We are very  
pleased that MAP will be joining forces with us.  MAP's strengths in R&D, sales 
and marketing complement those of ResMed and will strengthen ResMed's market    
leadership position in Europe. The acquisition of MAP represents a significant  
step forward in ResMed's global strategy and will assist ResMed's European      
expansion."                                                                     

Dr. Roberts further commented: "We are delighted that Dr. Stefan Madaus, CEO,   
Herr Harald Voegele, COO, and Caspar Graf Stauffenberg, CFO, will continue on in
those capacities.  We believe this is the basis for a successful integration of 
the two companies."                                                             

Dr. Madaus stated: "The MAP team is looking forward to working with a           
successful, truly global company.  We believe that we will now have the         
resources to make an even stronger contribution with innovative devices for the 
diagnosis and treatment of sleep-disordered breathing."                         

"The MAP management team is to be congratulated for having taken the company to 
the number one position in Germany in just six years and we are delighted to    
partner with them," said ResMed Chairman and Chief Executive Officer, Peter     
Farrell, Ph.D.  "This acquisition comes at the right time for us when we are    
looking at opening up new areas of business in both the diagnosis and treatment 
of sleep-disordered breathing in patients with chronic obstructive pulmonary    
disease, congestive heart failure and post stroke."                             

The acquisition of MAP is to be paid in two installments: an initial payment of 
DEM 28.75 million (approximately US$ 13.5 million), with the balance of DEM     
86.25 million (approximately US$ 41 million) due within 90 days.  Total debt to 
be assumed is approximately DEM 31 million (approximately US$ 14.5 million). The
transaction, excluding certain costs associated with it, is considered non-     
dilutive during the remainder of ResMed's fiscal year ending June 30, 2001.  As 
part of the transaction and as a consequence of MAP's extensive research and    
development activities, ResMed expects to take a charge for purchased in-       
progress R&D within its March quarter results. ResMed anticipates funding the   
acquisition through a combination of debt and cash.                             

ResMed is a leading developer, manufacturer, and marketer of medical equipment  
for the diagnosis and treatment of sleep-disordered breathing, selling a        
comprehensive range of products in over 50 countries.  ResMed made the Forbes'  
list of 200 Best Small Companies in America for four consecutive years; in 2000,
ResMed was ranked #34 up from #172 in 1997.  In both 1999 and 2000, ResMed was  
listed as one of Business Week's Hundred Hot Growth Companies and was named by  
FORTUNE magazine as one of America's One Hundred Fastest Growing Companies.     

EX-99.1
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Further information can be obtained by contacting Walter Flicker, Corporate     
Secretary, at ResMed Inc., San Diego, (858) 746 2400 ext. 2211 or by visiting   
the Company's multilingual web site at www.resmed.com.                          

Statements contained in this release which are not historical facts, including  
but not limited to statements concerning the financial impact of the            
acquisition, are "forward-looking" statements as contemplated by the Private    
Securities Litigation Reform Act of 1995. Such forward-looking statements,      
including statements regarding the Company's future revenue and earnings        
projections and the development of new markets for the Company's products, are  
subject to risks and uncertainties, which could cause actual results to differ  
materially from those projected or implied in the forward looking statements.   
Such risks and uncertainties are discussed in the Company's Annual Report on    
Form 10-K for its most recent fiscal year.                                      

### 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		6/30/01		1					10-K
Filed on:		3/2/01
		2/19/01		1
For Period End:		2/16/01							8-K/A
		12/31/00		1					10-Q
									List all Filings