YOUNG
INNOVATIONS, INC. ACQUIRES ASSETS OF BIOTROL AND CHALLENGE FROM PRO-DEX
CORPORATION
ST. LOUIS, MO.,
JUNE 13, 2001 ….Young
Innovations, Inc. (NASDAQ - YDNT) today announced that it has acquired the
assets of the Biotrol and Challenge subsidiaries of Pro-Dex Corporation
(NASDAQ-PDEX). Biotrol manufactures and markets a line of infection
control products. Challenge manufactures and markets a line of preventive
chemical products including prophy pastes, fluoride gels and whitening
products.
The purchase price
for the transaction is approximately $9 million in cash. The transaction
is expected to add approximately $8.5 million to Young's annual sales.
Young maintains its earnings expectations of approximately $1.42 per share
for 2001. Young believes the transaction will help the Company generate
EPS for 2002 in the $1.59 to $1.61 per share range, an increase of 12% to
14% over expected 2001 EPS.
Commenting on the
transaction, Alfred E. Brennan, President and Chief Operating Officer,
said, "This is a highly strategic acquisition for our Company. The
infection control and preventive chemical products of Biotrol and
Challenge significantly strengthen Young's infection control and
preventive product offering. We have identified multiple manufacturing and
marketing benefits of the transaction that we believe can be achieved over
time. We are very enthusiastic about the long-term prospects for this
acquisition."
Young
Innovations develops, manufactures and markets supplies and equipment used
by dentists and dental hygienists and consumers. The Company believes it
is the leading manufacturer of prophylaxis angles and cups (used in teeth
cleaning and polishing procedures) and distributor of panoramic x-ray
equipment in the United States. The Company also offers a line of dental
handpieces (drills), prophy pastes, fluorides and infection control
products, orthodontic tools and brushes, flavored gloves used in the
dental office as well as children's toothbrushes and toothpastes used for
home care.
Investors
are cautioned that this press release as well as other reports and oral
statements by Company officials may contain certain forward-looking
statements as defined in the Private Securities Litigation and Reform Act
of 1995. Forward looking statements include statements which are
predictive in nature, which depend upon or refer to future events or
conditions and which include words such as "expects",
"anticipates", "intends", "plans",
"believes", "estimates", or similar expressions. These
statements are not guaranties of future performance and the Company makes
no commitment to update or disclose any revisions to forward-looking
statements, or any facts, events or circumstances after the date hereof
that may bear upon forward-looking statements. Because such statements
involve risks and uncertainties, actual actions and strategies and the
timing and expected results thereof may differ materially from those
expressed or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, those disclosed in the
Company's Annual Report on Form 10-K and other reports filed with the
Securities and Exchange Commission.
SOURCE: Young Innovations, Inc.
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