Filed by Zimmer Holdings, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Centerpulse AG
(Registration No. 333-105561)
Subject Company: InCentive Capital AG
(Registration No. 333-105562)
On August 6, 2003, Zimmer Holdings, Inc. issued the following press release.
ZIMMER RESPONDS TO SMITH & NEPHEW ANNOUNCEMENT
WARSAW, IND. - August 6, 2003 - Zimmer Holdings, Inc. (NYSE:ZMH) today said that
it has noted today's announcement from Smith & Nephew indicating that it does
not intend to raise the value of its current offers for Centerpulse AG and
InCentive Capital AG.
"We understand that the formal process still has several weeks to run, but we
are pleased that our offer remains the superior one and that Centerpulse has
indicated it will recommend the higher offer to its shareholders," said Ray
Elliott, Chairman, President and CEO of Zimmer. "We believe that the terms of
our offer represent a compelling opportunity to maximize the value for
shareholders of Zimmer, Centerpulse and InCentive by creating the #1 pure-play
global orthopaedics company. We look forward to pursuing the next steps in the
process as soon as practical."
SAFE HARBOR STATEMENT
This press release contains forward-looking statements based on current
expectations, estimates, forecasts and projections about the orthopaedics
industry, management's beliefs and assumptions made by management.
Forward-looking statements may be identified by the use of forward-looking terms
such as "may," "will," "expects," "believes," "anticipates," "plans,"
"estimates," "projects," "targets," "forecasts," and "seeks" or the negative of
such terms or other variations on such terms or comparable terminology. These
statements are not guarantees of future performance and involve risks,
uncertainties and assumptions that could cause actual outcomes and results to
differ materially. These risks and uncertainties include, but are not limited
to, price and product competition, rapid technological development, demographic
changes, dependence on new product development, the mix of our products and
services, supply and prices of raw materials and products, customer demand for
our products and services, our ability to successfully integrate acquired
companies, control of costs and expenses, our ability to form and implement
alliances, international growth, U.S. and foreign government regulation, product
liability and intellectual property litigation losses, reimbursement levels from
third-party payors, general industry and market conditions and growth rates and
general domestic and international economic conditions including interest rate
and currency exchange rate fluctuations. In particular, forward-looking
statements as to Zimmer's financial and business performance following the
proposed acquisitions should be qualified by the absence of the opportunity for
Zimmer to perform comprehensive due diligence on Centerpulse or InCentive
Capital, a significant shareholder of Centerpulse. These forward looking
statements might have been significantly different had such due diligence review
been undertaken. For a further list and description of such risks and
uncertainties, see the disclosure materials filed by Zimmer with the U.S.
Securities and Exchange Commission. Zimmer disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Readers of this document are cautioned
not to place undue reliance on these forward-looking statements, since, while we
believe the assumptions on which the forward-looking statements are based are
reasonable, there can be no assurance that these forward-looking statements will
prove to be accurate. This cautionary statement is applicable to all
forward-looking statements contained in this document.
This press release is neither an offer to purchase nor a solicitation of an
offer to sell any securities. Any exchange offer will be made only through a
registration statement and related materials. Zimmer and its directors, officers
and other members of its management and employees also may be soliciting proxies
from Zimmer stockholders in connection with the exchange offers for shares of
Centerpulse AG and InCentive Capital AG. Investors and security holders should
note that the exchange offers described in this press release have not been
agreed to by Centerpulse or InCentive Capital and are subject to certain
conditions. In connection with the exchange offers, Zimmer has filed
registration statements on Form S-4 (each containing a prospectus/offer to
purchase) and a proxy statement on Schedule 14A with the U.S. Securities and
Exchange Commission and submitted Swiss offer prospectuses to the Swiss Takeover
Board. Investors and security holders of Centerpulse, InCentive Capital and
Zimmer are advised to read these disclosure materials (including other
disclosure materials when they become available), because these materials
contain important information. Investors and security holders may obtain a free
copy of the disclosure materials and other documents filed by Zimmer with the
U.S. Securities and Exchange Commission at the SEC's website at www.sec.gov. The
disclosure materials and other documents of Zimmer may also be obtained from
Zimmer upon request by directing such request to Sam Leno, Senior Vice President
and CFO, 574-372-4790.
ABOUT ZIMMER HOLDINGS, INC.
Zimmer (NYSE:ZMH), based in Warsaw, Indiana, is a worldwide leader in the
design, development, manufacture and marketing of reconstructive orthopaedic
implants and trauma products. Orthopaedic reconstruction implants restore joint
function lost due to disease or trauma in joints such as knees, hips, shoulders
and elbows. Trauma products are devices used primarily to reattach or stabilize
damaged bone and tissue to support the body's natural healing process. Zimmer
manufactures and markets other products related to orthopaedic surgery. For the
year 2002, the Company recorded worldwide revenues of $1.37 billion. Zimmer was
founded in 1927 and has more than 3,600 employees worldwide.
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Additional contacts:
Switzerland: Hirzel. Neef. Schmid. Konsulenten
Aloys Hirzel/+41 43 344 42 49/a-hirzel@konsulenten.ch
Andreas Thommen/+41 43 344 42 49/
a-thommen@konsulenten.ch
U.K.: M Communications
Hugh Morrison/+44 207 153 1534/morrison@mcomgroup.com
Nick Miles/+44 207 153 1535/miles@mcomgroup.com