-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FXUVASSme/fq4S78cRkHCD04IILY3RuGL+MdBe+H86quftbVtM54RGqh3yEbFlIt jOzLKvPRYr6gZLkHvzGAzA== 0000947871-05-000795.txt : 20050414 0000947871-05-000795.hdr.sgml : 20050414 20050414142203 ACCESSION NUMBER: 0000947871-05-000795 CONFORMED SUBMISSION TYPE: SC TO-C PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050414 DATE AS OF CHANGE: 20050414 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RUBICON MEDICAL CORP CENTRAL INDEX KEY: 0001115255 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 870361403 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-C SEC ACT: 1934 Act SEC FILE NUMBER: 005-79841 FILM NUMBER: 05750412 BUSINESS ADDRESS: STREET 1: 2064 WEST ALEXANDER CITY: WEST VALLEY CITY STATE: UT ZIP: 84119 BUSINESS PHONE: 8018869000 MAIL ADDRESS: STREET 1: 2064 WEST ALEXANDER CITY: WEST VALLEY CITY STATE: UT ZIP: 84119 FORMER COMPANY: FORMER CONFORMED NAME: RUBICON MEDICAL INC DATE OF NAME CHANGE: 20001116 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BOSTON SCIENTIFIC CORP CENTRAL INDEX KEY: 0000885725 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 042695240 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-C BUSINESS ADDRESS: STREET 1: ONE BOSTON SCIENTIFIC PL CITY: NATICK STATE: MA ZIP: 01760-1537 BUSINESS PHONE: 5086508000 SC TO-C 1 toc_041305.txt TENDER OFFER STATEMENT ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------- SCHEDULE TO-C (Rule 13e-4) Tender Offer Statement under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934 ---------------- RUBICON MEDICAL CORPORATION (Name of Subject Company (Issuer)) ---------------- NEMO I ACQUISITION, INC. BOSTON SCIENTIFIC CORPORATION (Name of Filing Person (Issuer and Offeror)) ---------------- Common Stock, Par Value $0.001 Per Share (Title of Class of Securities) ---------------- 78112Q103 (CUSIP Number of Class of Securities) ---------------- Lawrence J. Knopf Lawrence J. Knopf BOSTON SCIENTIFIC CORPORATION NEMO I ACQUISITION, INC. One Boston Scientific Place One Boston Scientific Place Natick, Massachusetts 01760-1537 Natick, Massachusetts 01760-1537 (508) 650-8000 (508) 650-8000 (Name, address and telephone number of person authorized to receive notices and communications on behalf of filing person) Copy to: Clare O'Brien, Esq. Shearman & Sterling LLP 599 Lexington Avenue New York, New York 10022-6069 (212) 848-4000 Calculation of Filing Fee ================================================================================ Transaction valuation Amount of filing fee - -------------------------------------------------------------------------------- N/A N/A ================================================================================ [_] Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. Amount Previously Paid: N/A Filing Party: N/A Form or Registration No.: N/A Date Filed: N/A [X] Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. Check the appropriate boxes below to designate any transactions to which the statement relates: [_] third party tender offer subject to Rule 14d-1. [X] issuer tender offer subject to Rule 13e-4. [_] going-private transaction subject to Rule 13e-3. [_] amendment to Schedule 13D under Rule 13d-2. Check the following box if the filing is a final amendment reporting the results of the tender offer. [_] ================================================================================ EXHIBIT INDEX Exhibit No. Description - --- ----------- 99.1 Joint Press Release issued by Boston Scientific Corporation and Rubicon Medical Corporation, dated April 14, 2005. EX-99.1 2 exh99-1_041305.txt JOINT PRESS RELEASE RUBICON MEDICAL CONTACT: David Politis, Politis Communications, 801-523-3730(wk)/801-556-8184(cell), dpolitis@politis.com FOR IMMEDIATE RELEASE Boston Scientific Corporation and Rubicon Medical Corporation Amend Agreements and Boston Scientific Exercises Option to Acquire Control of Rubicon Boston Scientific now owns approximately 53.6 percent of Rubicon on a fully diluted basis and will commence a cash tender offer for the remaining outstanding shares of Rubicon NATICK, MA and SALT LAKE CITY, UT - April 14, 2005 - Boston Scientific Corporation (NYSE: BSX) and Rubicon Medical Corporation (OTC BB: RMDC) today announced that concurrently with the amendment of their existing agreements, Boston Scientific exercised its option to acquire and acquired the Rubicon shares held by Rubicon's principal stockholders. This action triggered Boston Scientific's obligation to commence a cash tender offer for the other issued and outstanding shares of Rubicon's common stock at a price of $1.50 per share together with additional potential earn-out payments in the aggregate amount of up to $1.44 per share. The total price payable by Boston Scientific will be approximately $71.7 million initially with up to approximately $83.7 million in additional earn-out payments if all post-acquisition milestones are achieved. The Transaction Agreement and Option Agreements among Boston Scientific, Rubicon and Rubicon's principal stockholders (Chairman, David Berger and President and Chief Executive Officer, Richard Linder) were amended to reduce the initial price payable by Boston Scientific to the stockholders of Rubicon, except Berger, from $2.00 per share to $1.50 per share and from $2.00 per share to $0.79 per share in the case of Berger, reduce the aggregate potential earn-out payments from $1.50 per share to $1.44 per share, and change the performance milestone events required to be achieved as a precondition to payment of such earn-out amounts. The earn-out payments are now tied to three milestones as follows: o Payment of $0.48 per share upon receipt of marketing clearance for the Rubicon Filter(TM) from the United States Food & Drug Administration (FDA) for specified indications; o Payment of $0.50 per share if net sales of the Rubicon Filter exceed $50 million during a period of 12 or fewer consecutive months during the five years following marketing clearance for the Rubicon Filter; and o Payment of $0.46 per share if net sales of the Rubicon Filter exceed $100 million during a period of 12 or fewer consecutive months within the same five-year period. Under the original Transaction Agreement and Option Agreements, Boston Scientific could exercise its option to acquire Rubicon at any time until 90 days following the receipt of FDA approval of the Rubicon Filter. Prior to amending the agreements, Rubicon entered into an exclusive license and purchase agreement with a third party pursuant to which Rubicon acquired an exclusive license to use, and an option to purchase, certain patents and patent applications in consideration of license and option payments in the aggregate amount of $7 million, $6 million of which has been paid or will be paid shortly and the balance of which is payable upon FDA approval of an infringing product. "We could not be more pleased," Linder said. "The transaction is clearly in the best interest of all parties. The early exercise of the option allows Boston Scientific to apply its considerable resources and expertise toward the continued development, clinical testing, marketing and sale of the Rubicon Filter. It also provides an immediate return to the Rubicon stockholders with the potential for future additional payments if the Rubicon technology is successful. "While the price to the Rubicon stockholders has been reduced, Rubicon no longer bears the risk that the option will not be exercised or the challenge of operating the company through FDA approval with no certain sources of revenue or additional capital. The price was reduced in part to induce Boston Scientific to exercise the option prior to our receipt of FDA approval and in part to offset the payments we made to acquire additional intellectual property rights. I think it is also important to note that the transaction could not have been restructured without the willingness of David Berger, our chairman, to accept $0.79 per share for his stock on the initial payment while all other stockholders will receive $1.50 per share." About Boston Scientific Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com. About Rubicon Medical Rubicon Medical Corporation (www.rubiconmed.com) is a Salt Lake City-based developer and manufacturer of interventional vascular medical devices and products. The company focuses on minimally invasive endovascular techniques and products that are safer and more cost effective than surgery. Notice to Investors: This announcement does not constitute an offer to purchase nor a solicitation of an offer to sell any securities. The tender offer for the outstanding shares of Rubicon common stock described in this announcement has not commenced. Any offers to purchase or solicitation of offers to sell will be made only pursuant to an offer to purchase and related materials filed with the Securities and Exchange Commission. The offer to purchase and related materials will contain important information and should be read carefully before any decision is made with respect to the tender offer. Those materials will be made available to all stockholders of Rubicon at no expense to them. In addition, all of those materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC's web site (http://www.sec.gov). # # # Rubicon Filter is a trademark of Rubicon Medical Corporation. Boston Scientific Contacts: Milan Kofol, 508-650-8569, Investor Relations, Boston Scientific Corporation Paul Donovan, 508-650-8541, Media Relations, Boston Scientific Corporation -----END PRIVACY-ENHANCED MESSAGE-----