Waregem (Belgium) / Rotterdam (Netherlands)*, 4 June 2010 – Arseus today announces that it has completed the acquisition of Gallipot Inc., a leading supplier of raw materials for pharmaceutical compounding to pharmacies in the US. In 2009, Gallipot realised a turnover of approx US$ 12.5 million and an EBITDA margin in line with that of Fagron. The acquisition was first announced on 10 May 2010.
The acquisition of Gallipot gives Fagron a strong entry into the US market and forms an ideal platform for rolling-out the Fagron strategy of revitalizing pharmaceutical compounding and profiting from the increasing demand for tailor-made medication. The market for pharmaceutical compounding in the US has shown strong growth in recent years, a trend that is expected to continue in the coming years.
Fagron aims to further strengthen its market leadership positions through robust organic growth and a focused buy-and-build strategy.
Gallipot will be consolidated as from 1 April 2010 and will contribute to the earnings per share of Arseus in 2010.
For more information:
Constantijn van Rietschoten
Director Corporate Communications
+31 88 33 11 222 (Office)
+31 6 536 91 585 (Mobile)
constantijn.van.rietschoten@arseus.com
Arseus profile
Arseus is a multinational group of companies that supplies products, services and concepts to professionals and institutions in the European healthcare sector. Arseus is subdivided into four divisions and operates in the markets for pharmaceutical compounding for pharmacies, dental products, medical and surgical products, and medical IT-solutions. The Belgian company Arseus NV is located in Waregem, and is listed on NYSE Euronext Brussels and NYSE Euronext Amsterdam. The operational activities of the Arseus group are driven by the Dutch company Arseus BV. The head office of Arseus BV is located in Rotterdam.
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
* This press release was sent out by Arseus NV and Arseus BV.
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