ANGIOTECH ACQUIRES AMERICAN MEDICAL INSTRUMENTS

Angiotech Pharmaceuticals yesterday announced that it has entered into a definitive agreement to acquire American Medical Instruments Holdings (AMI), a leading independent manufacturer of specialty, single-use medical devices, for approximately $785 million in cash.

The transaction provides Angiotech with a commercial platform to capitalize on its current product pipeline, supporting a wide range of specialty therapeutic areas, the company said. At the same time, the acquisition of AMI significantly diversifies Angiotech's revenue base and gives the company global manufacturing, marketing and sales capabilities. The transaction, which is anticipated to close in the second quarter of 2006, is expected to be immediately accretive to Angiotech's 2006 and 2007 results.

Further details about the acquisition are available at http://www.angiotech.com/?seeknamed=Press%20Releases&viewpr=614 (http://www.angiotech.com/?seeknamed=Press%20Releases&viewpr=614)