Thermage (THRM) Rejects $5.50 Per Share Acquisition Offer

September 4, 2008 7:23 AM EDT

Thermage, Inc. (Nasdaq: THRM) determined to reject the previously announced unsolicited, non-binding proposal to acquire Thermage for $5.50 per share and that Thermage will not enter into discussions with the third party regarding its alternative acquisition proposal to the pending merger with Reliant Technologies, Inc. The Thermage Board determined to pursue closing the Reliant transaction as soon as possible.

Chairman of the Board, President and Chief Executive Officer, Stephen J. Fanning stated, "We are fully committed to our pending merger with Reliant and we find the merits of the proposed combination with Reliant compelling. We believe the proposed merger with Reliant will provide significantly greater value to Thermage stockholders. Our Board believes that the Reliant transaction will enable the company to establish a global leadership position in the aesthetic device industry. Thermage and Reliant have complementary business models and technologies which can provide a broad range of complementary products to both new and existing customers, and offer significant revenue and cost saving synergies."

Thermage, Inc. is engaged in designing, developing, manufacturing and marketing medical devices for the non-invasive treatment of wrinkles. [SM]

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