Cryo-Save Group N.V.: Acquisition of distributor
(Thomson Reuters ONE) -
click here for press release
Cryo-Save Group N.V. (Euronext: CRYO, 'Cryo-Save', or 'the Group'), Europe's
leading adult stem cell storage bank, has acquired its Bulgarian distributor,
Tissue Bank Cryo Center Bulgaria AD ('TBCCB') for an initial consideration of
?1.5 million payable in cash and 100,000 Cryo-Save Group N.V. shares, and a
deferred performance payment, payable annually on the achievement of certain
goals until 2013. The total acquisition price reflects approximately five times
EBIT of TBCCB. The Group expects the acquisition to be earnings enhancing with
immediate effect.
TBCCB is the leading company for private stem cell banking in Bulgaria and has
been a reliable distributor for Cryo-Save for many years. TBCCB has a strong
network among Bulgarian hospitals and gynaecologists and is already operating
successfully under the Cryo-Save brand.
Arnoud van Tulder, Chief Executive officer, commented:
"TBCCB has been a loyal Cryo-Save distributor for many years, so we are pleased
to welcome it formally into our Group. This acquisition fits perfectly with our
strategy and strengthens our leading position in Eastern Europe, one of our
fastest growing markets.
TBCCB also provides us with an excellent platform in Bulgaria for new products
such as Cryo-Lip(®). We are pleased that TBCCB's management will be remaining
with us and we are confident that their ideas and experience will benefit Cryo-
Save".
Enquiries:
Cryo-Save Group + 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer
SPJ Financiële Communicatie (The Netherlands) +31 (0) 20 6478181
Kees Jongsma/Leon Melens
Daniel Stewart & Company plc (UK) + 44 (0) 20 7776 6550
Chris Theis
College Hill (UK) + 44 (0) 20 7457 2020
Adrian Duffield/Rozi Morris
Free footage is available on www.videobankonline.com.
About Cryo-Save
?With more than 135,000 samples saved, Cryo-Save is the leading stem cell bank
in Europe and one of the fastest growing in the world. Driven by its
international business strategy, Cryo-Save is now represented in 39 countries on
three continents with state-of-the-art processing facilities in Belgium,
Germany, Dubai, India and France.
[HUG#1458123]
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Source: Cryo-Save Group N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 48332
Anzahl Zeichen: 3263
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