WEALTH UNIVERSITY

[ToysInTheAttic]

SURG - Announces Distribution Deal with Alcon (ACL); Settles Litigation; To Receive $32M For the Rights
5:25 pm ET 04/27/2010 - StreetInsider
Synergetics USA, Inc., (Nasdaq: SURG) announced today the signing of a pair of agreements with Alcon Laboratories, Inc. (NYSE: ACL) granting Alcon a license to sell certain products manufactured by Synergetics for worldwide distribution on a co-exclusive basis throughout the extensive Alcon network and covering the terms of supply of such products to Alcon by Synergetics. The agreements also settle all litigation between Synergetics and Alcon.

As provided by the Settlement & License Agreement and Supply Agreement, Alcon will pay Synergetics approximately $32 million for the right to sell certain Synergetics' patented products worldwide and to settle all pending litigation between the companies. These Agreements also provide for the resolution of any future disputes through a well-defined mediation process.

"We are pleased to be able to enter into a long term business relationship with Alcon, and settle all litigation between the companies," commented Robert Dick, Chairman of the Synergetics' Board. Bob went on to say, "Synergetics welcomes the opportunity to work with Alcon to provide ophthalmic surgeons throughout the world with select instruments

Synergetics USA Announces Conference Call
8:49 am ET 04/28/2010- PR Newswire
O'FALLON, Mo., April 28 /PRNewswire-FirstCall/ -- Synergetics USA, Inc., (Nasdaq: SURG) will provide an online, real-time webcast and broadcast of its conference call on Wednesday, April 28, 2010, covering the settlement and license agreement with Alcon.

The live broadcast of Synergetics USA conference call will be available on-line at: http://www.synergeticsusa.com on April 28, 2010, beginning at 12:00 p.m. (Eastern Time). The online replay will follow immediately and continue for 30 days. To hear the Company's conference call live, dial 888-811-5448, confirmation code 7150418. A replay will be available from 2:00 p.m. (Eastern Time) on April 28 until 11:00 p.m. (Eastern Time) on May 5. To listen to the playback, call 7194570820, confirmation code 7150418.