Roper Acquires CIVCO Medical Instruments

21.06.2005

Roper Industries, Inc. announced that it has acquired CIVCO Medical Instruments Co., Inc., a provider of specialized medical products based in Kalona, Iowa, from KRG Capital Partners, LLC.

CIVCO supplies diagnostic and therapeutic disposable products used in conjunction with ultrasound imaging for minimally invasive procedures primarily in urology, radiology, and cardiology. CIVCO also recently introduced the innovative CIVCO Assist(TM) product line, a surgical patient platform that increases productivity and improves patient care across several imaging modalities. CIVCO joins Roper's Imaging segment, enhancing the increasing focus on life science and medical applications within the segment.

CIVCO is expected to add at least $0.05 of diluted earnings per share to Roper's performance in 2006, the first full calendar year following completion of the transaction. The cash purchase price of $120 million represents approximately 8-and-a-half times expected 2006 EBITDA. CIVCO is expected to generate approximately $40 million of revenues in 2006.

Brian Jellison, Chairman, President and Chief Executive Officer of Roper, said, "This acquisition meets our disciplined strategic criteria. CIVCO serves an attractive market with multiple growth paths, is well-managed, achieves strong cash returns and, through its consumables business, has significant recurring revenues. CIVCO's innovation, driven by its team of nationally-recognized medical professionals, has contributed to its consistent growth and led to the recent introduction of the CIVCO Assist(TM), which creates an entirely new market opportunity. The business has strong relationships with leading OEMs and end users. We look forward to working with CIVCO's management team to build the value of their business for the benefit of their business partners and our shareholders."

CIVCO's senior management team, under the leadership of Charles R. Klasson, Jr., President, will continue in their positions under Roper's ownership. "My colleagues and I are pleased to join Roper's portfolio of outstanding businesses," said Mr. Klasson. "Roper has a long track record of growing businesses like CIVCO, and our employees will benefit from being part of Roper. We look forward to partnering with Brian and the entire Roper team to capitalize on the many opportunities available to us."

About CIVCO

Founded in 1981, CIVCO Medical Instruments has a solid history of innovation, growth and profitability. Product lines have evolved over the years to include biopsy systems, protective covers, ultrasound supplies, and positioning and stabilization systems. The Company is firmly established as a key strategic supplier to Original Equipment Manufacturers (OEMs) such as Philips Medical Systems, GE Healthcare, Siemens Medical Solutions, Toshiba Medical Systems, Aloka Ltd., B-K Medical and SonoSite. In addition to OEMs, CIVCO's products are sold to over 7,500 hospitals and clinics throughout the world.

About Roper Industries

Roper Industries is a diversified industrial growth company with more than $1 billion of annualized revenues. Roper provides engineered products and solutions for global niche markets, including water, energy, radio frequency and research/medical applications.

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