OREANDA-NEWS. June 09, 2011. Toshiba Medical Systems Corporation (“TMSC”) today announced the completion of the initial cash tender offer by TMSC and its wholly-owned subsidiary, Magenta Corporation (“Merger Sub”), for all of the outstanding shares of common stock of Vital Images, Inc. (Nasdaq: VTAL) (“Vital Images”). TMSC also announced the commencement of a subsequent offering period that is scheduled to expire at 5:00 p.m., New York City time, on Wednesday, June 15, 2011, unless extended.

The initial tender offer period and withdrawal rights expired at 12:00 midnight, New York City time, on Wednesday, June 8, 2011. BNY Mellon Shareowner Services, the depositary for the tender offer, has advised TMSC that a total of 11,819,158 shares of Vital Images’ common stock were validly tendered and not properly withdrawn upon expiration of the initial tender offer period (including 557,935 shares subject to guaranteed delivery procedures). The number of shares validly tendered and not properly withdrawn upon expiration of the initial tender offer period represents approximately 83.9% of Vital Images’ outstanding common stock on a non-fully diluted basis, and approximately 72.4% of Vital Images’ outstanding common stock on a fully diluted basis. Therefore, the minimum tender condition to the tender offer has been satisfied. Merger Sub has accepted for payment all shares that were validly tendered and not properly withdrawn in the initial tender offer and payment for such shares has been or will be made promptly in accordance with the terms of the tender offer.

On Thursday, June 9, 2011, TMSC and Merger Sub commenced a subsequent offering period for all the remaining untendered shares of Vital Images’ common stock. This subsequent offering period will expire at 5:00 p.m., New York City time, on Wednesday, June 15, 2011, unless extended. Merger Sub will accept for payment all shares that are validly tendered during the subsequent offering period and the same offer price of USD 18.75 per share (in cash, net to the seller, without interest and subject to any required withholding taxes) will be paid for such shares promptly after they are received, in accordance with the terms of the tender offer. The procedures for accepting the tender offer and tendering shares during the subsequent offering period are the same as those described for the tender offer in the offer to purchase, except that shares tendered during the subsequent offering period may not be withdrawn.