MINNEAPOLIS, March 3, 2015 /PRNewswire/ -- Uroplasty,
Inc. (NASDAQ: UPI), a medical device company that develops,
manufactures and markets innovative proprietary products to treat
voiding dysfunctions, will host a meeting for shareholders and
analysts on Thursday, March 12, 2015,
beginning at 3:00 pm Central Time, at
Uroplasty's corporate headquarters in Minnetonka,
Minnesota.
Rob Kill, President and Chief
Executive Officer, will host the meeting, which will feature a
discussion of the proposed merger between Uroplasty and
Vision-Sciences and a presentation by Dr. Roland Ugarte, who will discuss the roles that
Urgent PC and EndoSheath have in today's urology
practices. Dr. Ugarte is a Senior Partner of Urology
Associates, a Minneapolis-based
group of 15 urologic surgeons providing comprehensive
care to over 75,000 patients and performing over 35,000
procedures each year. As a past president of the Minnesota
Urological Association, Dr. Ugarte is a recognized
leader in the field of urology.
On December 22, 2014, Uroplasty,
Inc. and Vision-Sciences, Inc. announced an agreement and plan of
merger under which the two companies will combine in an all-stock
transaction to create a new medical device company to be named
Cogentix Medical, Inc. The proposed merger is subject to
shareholder and other customary approvals, with each company's
shareholder meeting scheduled for March 30,
2015.
In-person attendance at the meeting is by confirmed RSVP only.
Persons interested in attending should contact Brian Moore at bmoore@evcgroup.com or
310-579-6199. A live audio webcast of the presentation will
be broadcast via the Internet and may be accessed through the
Investor Relations section of Uroplasty's website at
www.uroplasty.com. An archived replay of the presentation will also
be available at investor.uroplasty.com.
About Uroplasty
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned
subsidiaries in The Netherlands
and the United Kingdom, is a
global medical device company that develops, manufactures and
markets innovative proprietary products for the treatment of
voiding dysfunctions. Uroplasty's focus is the continued
commercialization of its Urgent® PC Neuromodulation System, which
Uroplasty believes is the only commercially available, FDA-cleared
device that delivers percutaneous tibial nerve stimulation (PTNS)
for the office-based treatment of overactive bladder (OAB).
OAB is a chronic condition that affects approximately 42 million
U.S. adults. The symptoms include urinary urgency, frequency
and urge incontinence. Uroplasty also offers Macroplastique®,
an injectable urethral bulking agent for the treatment of adult
female stress urinary incontinence primarily due to intrinsic
sphincter deficiency. For more information on Uroplasty and
its products, please visit Uroplasty, Inc. at
www.uroplasty.com.
About Vision-Sciences
Based in Orangeburg, New York,
Vision-Sciences, Inc. designs, develops, manufactures and markets
products for flexible endoscopy. The company's unique product lines
feature a streamlined visualization system and proprietary sterile
disposable microbial barrier, known as EndoSheath technology,
providing users with efficient and cost effective endoscope
turnover while enhancing patient safety. For more information on
Vision-Sciences and its products, please visit Vision-Sciences,
Inc. at www.visionsciences.com.
Important Additional Information and Where to Find It
In connection with the proposed merger, Vision-Sciences has
filed with the SEC a registration statement on Form S-4 that
includes a joint proxy statement of Uroplasty and Vision-Sciences
that also constitutes a prospectus of Vision-Sciences. The
registration statement was declared effective by the SEC on
February 20, 2015. On
February 23, 2015, Uroplasty and
Vision-Sciences filed the joint proxy statement/prospectus with the
SEC. On or about February 26,
2015, Uroplasty and Vision-Sciences mailed the joint proxy
statement/prospectus to their respective shareholders.
Investors are urged to read the joint proxy
statement/prospectus, because it contains important
information. The registration statement, joint proxy
statement/prospectus and other documents filed by Uroplasty and
Vision-Sciences with the SEC are available free of charge at the
SEC's website (www.sec.gov) and from Uroplasty and Vision-Sciences.
Requests for copies of the joint proxy statement/prospectus
and other documents filed by Uroplasty with the SEC may be made by
contacting Brett Reynolds, Senior
Vice President, Chief Financial Officer by phone at (952) 426-6152
or by email at brett.reynolds@uroplasty.com, and request for copies
of the joint proxy statement/prospectus and other documents filed
by Vision-Sciences may be made by contacting Gary Siegel, Vice President, Finance by phone at
(845) 848-1085 or by email at gary.siegel@visionsciences.com.
Participants in the Solicitation
Uroplasty, Vision-Sciences, their respective directors,
executive officers and employees may be deemed to be participants
in the solicitation of proxies from Uroplasty's and
Vision-Sciences' respective shareholders in connection with the
proposed transaction. Information about the directors and
executive officers of Uroplasty and their ownership of Uroplasty
stock is set forth in Uroplasty's annual report on Form 10-K for
the fiscal year ended March 31, 2014,
and its proxy statement for its 2014 annual meeting of
shareholders, which was filed with the SEC on July 22, 2014. Information regarding
Vision-Sciences' directors and executive officers is contained in
Vision-Sciences' annual report on Form 10-K for the fiscal year
ended March 31, 2014 and its proxy
statement for its 2014 annual meeting of shareholders, which was
filed with the SEC on June 17, 2014.
Additional information regarding the participants in the
solicitation of Uroplasty and Vision-Sciences shareholders has been
included in the joint proxy statement/prospectus filed with the SEC
on February 23, 2015 and mailed to
their respective shareholders beginning on or about February 26, 2015. These documents can be
obtained free of charge from the sources indicated above.
Certain directors, executive officers and employees of
Uroplasty and Vision-Sciences may have direct or indirect interest
in the transaction due to securities holdings, vesting of equity
awards and rights to severance payments.
Cautionary Statements Related to Forward-Looking
Statements
This press release includes forward-looking statements.
These forward-looking statements generally can be identified
by the use of words such as "anticipate," "expect," "plan,"
"could," "may," "will," "believe," "estimate," "forecast," "goal,"
"project," and other words of similar meaning. Forward-looking
statements in this press release include, but are not limited to,
statements about the benefits of the transaction; expected revenue
growth rates; the expected timing of the completion of the
transaction; and the combined company's plans, objectives,
expectations and intentions with respect to future operations,
products and services. Each forward-looking statement
contained in this press release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable
risks and uncertainties include, among others, uncertainties as to
the timing of the transaction; uncertainties as to whether
Uroplasty shareholders and Vision-Sciences shareholders will
approve the transaction; the risk that competing offers will be
made; the possibility that various closing conditions for the
transaction may not be satisfied or waived; the risk that
shareholder litigation in connection with the transaction may
result in significant costs of defense, indemnification and
liability; other business effects, including the effects of
industry, economic or political conditions outside of either
company's control; the failure to realize synergies and
cost-savings from the transaction or delay in realization thereof;
the businesses of Uroplasty and Vision-Sciences may not be combined
successfully, or such combination may take longer, be more
difficult, time-consuming or costly to accomplish than expected;
operating costs and business disruption following completion of the
transaction, including adverse effects on employee retention and on
each company's respective business relationships with third
parties; transaction costs; actual or contingent liabilities; the
adequacy of the combined company's capital resources; and the risks
identified under the heading "Risk Factors" in the joint proxy
statement/prospectus filed with the SEC on February 23, 2015, Uroplasty's Annual Report on
Form 10-K, for the fiscal year ended March
31, 2014, filed with the SEC on June
9, 2014, and Vision-Sciences' Annual Report on Form 10-K for
the fiscal year ended March 31, 2014,
filed with the SEC on May 30, 2014,
as well as both companies' subsequent Quarterly Reports on Form
10-Q and other information filed by each company with the SEC.
Uroplasty and Vision-Sciences caution investors not to place
considerable reliance on the forward-looking statements contained
in this press release. You are encouraged to read Uroplasty's
and Vision-Sciences' filings with the SEC, available at
www.sec.gov, for a discussion of these and other risks and
uncertainties. The forward-looking statements in this press
release speak only as of the date of this document, and Uroplasty
and Vision-Sciences undertake no obligation to update or revise any
of these statements. Uroplasty's and Vision-Sciences'
businesses are subject to substantial risks and uncertainties,
including those referenced above. Investors, potential investors,
and others should give careful consideration to these risks and
uncertainties.
For Further Information:
Uroplasty, Inc.
Brett Reynolds, SVP and
CFO
952-426-6152
EVC Group
Doug
Sherk/Brian Moore
(Investors)
415-652-9100/310-579-6199
Janine
McCargo (Media)
646-688-0425
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SOURCE Uroplasty, Inc.