Acquisition enhances Zebra's solutions portfolio in patient safety and regulatory compliance
Lincolnshire, IL, July 13, 2012 - Zebra Technologies Corporation (NASDAQ: ZBRA) today announced that it has acquired LaserBand LLC, a leading provider of patient identification wristbands and related products which are used more than 200 million times per year by thousands of hospitals around the world. This acquisition strengthens Zebra's leadership position in serving the healthcare industry. For 2011, LaserBand had sales of $24 million. The transaction is expected to be immediately accretive to Zebra's earnings. Terms of the transaction were not disclosed.
"With the increasing focus on improving patient safety and hospital workflow, Zebra's innovative products and solutions enable healthcare organizations to more easily track people, assets and information," said Anders Gustafsson, CEO of Zebra. "As a leader in patient identification, LaserBand is an excellent strategic fit as we expand our dedicated healthcare offerings. We are delighted to welcome this talented team to the Zebra family."
The transaction provides Zebra a solid platform to accelerate its growth in healthcare. It extends Zebra's supplies portfolio with patented, proprietary patient safety-related products, bolsters the company's patent portfolio and offers greater access to hospitals and other healthcare organizations. LaserBand's strong and capable sales organization now has a broader range of products to sell, and Zebra's global presence will provide new opportunities to market LaserBand products in regions outside of North America.
From an industry perspective, regulations continue to evolve, and hospitals are in various stages of adopting the electronic healthcare record (EHR) protocol. Barcoding and wristband technology are integral components of EHR. Zebra strives to stay ahead of requirements to ensure that hospitals and other health care customers have the broadest array of technology choices to help them reach their objectives in an efficient and cost-effective manner.
This press release contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or implied in the company's forward-looking statements. These statements represent estimates only as of the date they were made. Zebra undertakes no obligation, other than as may be required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this release.
These forward-looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and uncertainties inherent in Zebra's industry, market conditions, general domestic and international economic conditions, and other factors. Specific to this transaction, the success of this acquisition depends on several factors, including the continued customer acceptance of LaserBand products, our ability to retain key customers, the success of any integration activities, and our ability to retain certain key individuals. Other factors include customer acceptance of Zebra's hardware and software products and competitors' product offerings, and the potential effects of technological changes. The continued uncertainty over future global economic conditions, the availability of credit, capital markets volatility, may have adverse effects on Zebra, its suppliers and its customers. In addition, a disruption in our ability to obtain products from vendors as a result of supply chain constraints, natural disasters or other circumstances could restrict sales and negatively affect customer relationships. Profits and profitability will be affected by Zebra's ability to control manufacturing and operating costs. Because of a large investment portfolio, interest rates and financial market conditions will also have an impact on results. Foreign exchange rates will have an effect on financial results because of the large percentage of our international sales. The outcome of litigation in which Zebra may be involved is another factor. These and other factors could have an adverse effect on Zebra's sales, gross profit margins and results of operations and increase the volatility of our financial results. When used in this release and documents referenced, the words "anticipate," "believe," "estimate," and "expect" and similar expressions, as they relate to the company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. Descriptions of the risks, uncertainties and other factors that could affect the company's future operations and results can be found in Zebra's filings with the Securities and Exchange Commission. In particular, readers are referred to Zebra's Form 10-K for the year ended December 31, 2011.
About Zebra Technologies
A global leader respected for innovation and reliability, Zebra Technologies Corporation (NASDAQ: ZBRA) offers technologies that give a virtual voice to an organization's assets, people and transactions, enabling organizations to unlock greater business value. The company's extensive portfolio of marking and printing technologies, including RFID and real-time location solutions, illuminates mission-critical information to help customers take smarter business actions. For more information about Zebra's solutions, visit http://www.zebra.com.
St. Louis-based LaserBand is the worldwide technology leader in patient identification wristbands and related products and the largest company in the world dedicated solely to patient identification. Founded in 1999, the company patented and pioneered the industry-leading self-laminating laser-printable patient wristband. It has since developed a full suite of laser and thermal wristband solutions and ancillary products which are used more than 200 million times per year by hospitals around the world to improve both patient safety and hospital workflow.