aap completes sale of remaining stake in aap Joints GmbH
(Thomson Reuters ONE) -
aap Implantate AG /
aap completes sale of remaining stake in aap Joints GmbH
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* Final step on the way to a pure player in trauma
aap Implantate AG ("aap") announces the successful completion of the sale of the
remaining stake of 33% in aap Joints GmbH. The company fulfilled the conditions
agreed on in the share purchase agreement of 23 September 2016 so that the share
transfer will now be executed.
By completing this transaction, aap receives an amount of about EUR 0.4 million
by year end. According to calculations to date, the company generated sales of
about EUR 1 million with a relative low margin share with aap Joints GmbH in
financial year 2016. In the next year the business relationship will be
restricted to few manufacturing services and service activities which will only
make a low contribution towards sales.
In aap Joints GmbH all the orthopaedic activities (knee, hip and shoulder) were
bundled together with the C~Ment®-line. In the course of the consequent focusing
on the trauma business aap has already sold 67% of the shares in aap Joints GmbH
in 2013. By selling the remaining stake of 33% aap now takes the final step on
the way to a pure player in trauma.
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
products for orthopaedics. The IP protected portfolio includes besides the
innovative anatomical plating system LOQTEQ® and trauma complementary
biomaterials a wide range of cannulated screws as well as standard plates and
screws. Furthermore, aap Implantate AG has an innovation pipeline with promising
development projects as the antibacterial silver coating technology and
magnesium based implants. These technologies address critical problems in
surgery that haven't yet been resolved adequately. In German-speaking Europe aap
Implantate AG directly sells its products to hospitals, buying syndicates and
hospital groups while it uses a broad network of distributors in more than 25
countries at the international level. 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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: aap Implantate AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2016 - 08:35 Uhr
Sprache: Deutsch
News-ID 513379
Anzahl Zeichen: 4503
contact information:
Town:
Berlin
Kategorie:
Business News
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"aap completes sale of remaining stake in aap Joints GmbH"
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