Eckert & Ziegler to sell US seed business
(Thomson Reuters ONE) -
Seneffe, November 30, 2015. Eckert & Ziegler BEBIG s.a. (EZB) (Euronext: EZBG;
Reuters: EZBG.BR; Bloomberg: EZBG:BB) is to sell its US seed business to the US-
based Theragenics Corporation. This was decided by the Board of Directors during
today's meeting. The transaction is expected to be completed by the end of
2015. The parties have agreed not to disclose the sales price.
EZB acquired the business, which is centered on the refining of prostate cancer
implants and on application needles, from the US company Biocompatibles Inc. in
2013. Biocompatibles had voluntarily suspended manufacture and delivery of its
products in May 2013 following claims of shortcomings in its documentation of
the manufacturing process by the U.S. Food and Drug Administration. Despite EZB
rectifying all of the quality deficiencies, it failed to win back the trust of
the majority of customers and return to turning a profit on the business. The
sale by EZB is part of its restructuring concept, which was determined on the
basis of a detailed, strategic review of all business fields. The plan now is to
sell the US seed business and switch focus to higher-margin areas.
"We have found the best solution for our company, our customers and our
shareholders," said Dr. Edgar Löffler, Managing Director of Eckert & Ziegler
BEBIG s.a. "We can now concentrate our efforts in the prostate seed business on
the European market and consolidate our resources in the US on afterloader
business." This sale marks a major step forward in Eckert & Ziegler BEBIG's
strategy of becoming a profitable specialist in brachytherapy, a gentler form of
cancer treatment. The company received a license to sell the latest generation
of afterloaders, the SagiNova®, in April 2015. The first devices are expected to
be sold before the end of the year.
"This transaction continues our long-standing commitment to prostate
brachytherapy and the physicians and patients who depend on it," stated Frank J.
Tarallo, Chief Executive Officer of Theragenics Corporation. "We will be able to
provide all EZB U.S. seed customers with the unrivaled service and quality
products our customers expect. As the leading manufacturer and supplier in this
market, we are confident we can support EZB's customers in their efforts to
deliver the highest quality treatment to their prostate cancer patients."
About Eckert & Ziegler BEBIG
Eckert & Ziegler BEBIG is a European market leader in the brachytherapy sector
and employees approx. 180 people worldwide. The company has been listed on the
NYSE Euronext exchange in Brussels since April 2007 (Euronext: EZBG; Reuters:
EZBG.BR; Bloomberg: EZBG:BB).
Your contact:
Eckert & Ziegler BEBIG s.a.
Investor Relations, Karolin Riehle
Tel: +32 64 520 808, Fax: +32 64 520 801
E-Mail: ir(at)bebig.com, www.bebig.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eckert & Ziegler BEBIG via GlobeNewswire
[HUG#1970205]
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2015 - 18:44 Uhr
Sprache: Deutsch
News-ID 436413
Anzahl Zeichen: 3646
contact information:
Town:
Seneffe
Kategorie:
Business News
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