LAWRENCE, Mass., Oct. 27, 2017 /PRNewswire/ -- NxStage Medical, Inc. (Nasdaq: NXTM), a leading medical technology company focused on advancing renal care, today announced that at a special meeting of stockholders held today, the Company's stockholders voted to adopt the previously announced Agreement and Plan of Merger, dated August 7, 2017 (the "Merger Agreement"), with Fresenius Medical Care Holdings, Inc. ("Fresenius"), whereby Fresenius will acquire NxStage through a wholly-owned subsidiary of Fresenius. The approval of the Merger Agreement fulfills an important condition for the full acquisition of NxStage Medical, Inc.
Approximately 94% of the vote cast at today's special meeting of stockholders voted in favor of the adoption of the Merger Agreement. This represents approximately 72% of NxStage's total outstanding shares of common stock as of the September 20, 2017 record date and constitutes a majority of the outstanding shares of NxStage common stock entitled to vote at the special meeting, as required to adopt the Merger Agreement.
Upon completion of the merger, NxStage stockholders will be entitled to received $30.00 in cash, without interest, for each share of NxStage's common stock that such stockholder owns. The merger, which is expected to be completed in 2018, remains subject to additional customary closing conditions, including regulatory review under the Hart-Scott-Rodino Antitrust Improvements Act in the U.S.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a leading medical technology company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of ESRD and acute kidney failure. NxStage also has established a small number of dialysis clinics committed to the development of innovative care delivery models for patients with ESRD. For more information on NxStage and its products and services, please visit the Company's websites at www.nxstage.com and www.nxstagekidneycare.com.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including those that are discussed in NxStage's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. NxStage is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Kristen K. Sheppard, Esq.
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SOURCE NxStage Medical, Inc.