Esperite N.V.: important recurrent financial improvements from Laboratory transfer and cost reduction program Galaxy
(Thomson Reuters ONE) -
ESPERITE N.V. announces important recurrent financial improvements from
Laboratory transfer and cost reduction program Galaxy
1.2 Millions euro saving per year starting June 2016
Zutphen, The Netherlands - 15 June 2016
An important cost saving and reorganisation program called Galaxy was announced
by Esperite's CEO, Frederic Amar in 2014. The Galaxy project aims to centralize
and optimize CryoSave's laboratory for Stem Cell processing in Switzerland. Main
targets are to improve the efficiency, to reduce the transportation costs and to
avoid the double costs of having two fully operational facilities in place.
Since January 2016, Stem Cells from Cord Blood samples are sent directly to
Geneva - Switzerland for processing and cryopreservation. The central processing
organization, the laboratory facilities of CryoSave and the Genoma's clinical
genetic laboratory are located in the same building.
Previously, due to the specific Tissue Bank licence and local regulatory
requirements samples were passing through the Laboratory in The Netherlands and
then sent to the Laboratory facility in Belgium. This resulted in unnecessary
high transportation costs and longer transports time. Negotiations with two
major international suppliers for logistic resulted in improved conditions,
shorter transit time and lower costs. Decreased time between sample collection
and processing supports the quality of service and decreases the risk of
processing failures.
An advantage of being located in Switzerland is the stable regulatory and
technological environment. CryoSave fulfils all regulatory requirements in
Switzerland and also obtained the necessary Swiss licenses. The import and
export of samples to and from European and non-European countries are well
organized and according to all the rules and regulations. A new traceability
system has been implemented in line with current and future requirements for the
different accreditations.
The cost for closing down the laboratory facilities in The Netherlands and
Belgium have been minimized due to a smooth anticipated and properly scheduled
transition of incoming samples to Geneva and consequently a smooth leave of
employees during the year 2015. Employees have worked during their notice
period, so almost no termination fees had to be paid.
The move to Switzerland did not lead to an increase in the employee benefit
expenses, because higher salary costs were offset by lower social security
charges in Switzerland. Due to better optimisation of the laboratory processes
and higher automatization, head count is also lower by 25% for the same volume
processed.
The investment in our Swiss laboratory facilities could be kept limited as most
of the equipment and laboratory infrastructure was part of the Salveo
acquisition in 2014. Thanks to that transaction in 2014 Cryo-Save obtained a
very efficient Swiss organization and only needed some investments to complete
it. These costs were all accounted for in 2015.
Management assesses the recurring cost saving for having one laboratory for
processing of the samples and efficiency of the processes to 1.2 million euro at
a yearly basis. During the first half year 2016 Esperite already enjoyed part of
the cost saving program benefits but full benefits will be taken into account
from July 2016 onwards.
About ESPERITE
ESPERITE Group, listed at Euronext Amsterdam and Paris, is a leading
international company in regenerative and predictive medicine established in
2000.
To learn more about ESPERITE Group, or to book an interview with CEO Frédéric
Amar: +31 575 548 998 - ir(at)esperite.com or visit the websites at
www.esperite.com and www.genoma.com.
ESPERITE PR GALAXY PROJECT:
http://hugin.info/143308/R/2020742/750601.pdf
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(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: Esperite N.V. via GlobeNewswire
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