aap completes sale of biomaterials business
(Thomson Reuters ONE) -
aap Implantate AG /
aap completes sale of biomaterials business
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The issuer is solely responsible for the content of this announcement.
aap Implantate AG ("aap") today completed the sale of 100% of the company shares
in its subsidiary aap Biomaterials GmbH. The buyer is Keensight Capital, a
leading player in European Growth Private Equity.
By completing this transaction, aap receives proceeds of about EUR 36.6 million.
After deduction of the estimated transaction costs the net inflow amounts to
around EUR 35 million. According to preliminary calculations, the completion of
the transaction will result in a positive one-time overall effect on the
earnings level of EUR 19 million - EUR 20 million.
The company will use part of the proceeds to finance further growth and to
distribute part of them to its shareholders. In this context aap evaluates
different options without having taken a measure into closer consideration or
decided on it. For example the set up of a share buyback program in the current
financial year and / or a dividend payment in financial year 2017 based on the
annual financial statements 2016 seem to be conceivable.
By closing the transaction, aap becomes a pure player in trauma with an
innovative product and technology portfolio. The three IP-protected platform
technologies LOQTEQ®, silver coating and magnesium offer enormous growth
potential in the mid term. Unlocking the inherent value of these innovative
product and technology basis is an essential goal of aap's further strategic
development.
With the "new" aap as a pure player in trauma, the Management Board is confident
to realize a compelling growth story and to sustainably increase shareholder
value.
About aap Implantate AG
aap Implantate AG is a globally operating medical device company headquartered
in Berlin, Germany. The company develops, manufactures and markets trauma and
biomaterials products for orthopedics. The trauma portfolio includes besides the
innovative anatomical plating system LOQTEQ® a wide range of cannulated screws
as well as standard plates and screws. In the biomaterials business the company
is specialized on bone cements and mixing systems. In German-speaking countries
aap Implantate AG directly sells its trauma products to hospitals, buying
syndicates and hospital groups while it uses a broad network of distributors in
more than 60 countries at the international level. In the biomaterials business
sales are handled via OEM and private label cooperations with several selected
international orthopedic and trauma companies. aap Implantate AG's stock is
listed in the Prime Standard segment of Frankfurt Stock Exchange (XETRA:
AAQ.DE). For more information, please visit www.aap.de, or download the
Company's investor relations app from the Apple's App Store or Google Play.
Forward-looking statement
This release may contain forward-looking statements based on current experience,
estimates and projections of the management board and currently available
information. They are not guarantees of future performance. Various known and
unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation, development
or performance of the company and the estimates given here. Many factors could
cause the actual results, performance or achievements of aap to be materially
different from those that may be expressed or implied by such statements. These
factors include those discussed in aap's public reports. Forward-looking
statements therefore speak only as of the date they are made. aap does not
assume any obligation to update the forward-looking statements contained in this
release or to conform them to future events or developments.
For inquiries please contact: aap Implantate AG, Fabian Franke, Investor
Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: f.franke(at)aap.de
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: aap Implantate AG via GlobeNewswire
[HUG#2011892]
Unternehmensinformation / Kurzprofil:
Datum: 11.05.2016 - 17:08 Uhr
Sprache: Deutsch
News-ID 470404
Anzahl Zeichen: 5035
contact information:
Town:
Berlin
Kategorie:
Business News
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"aap completes sale of biomaterials business"
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