FAGRON STRENGTHENS MARKET LEADERSHIP WITH ACQUISITIONS IN AUSTRALIA, SOUTH-AFRICA AND GREECE
Waregem (Belgium) / Rotterdam (Netherlands)[1], 3 July 2014 – Arseus announced today that the divestment program of the Healthcare Specialties and Healthcare Solutions divisions has been virtually completed. Arseus successfully finalised the sale of Duo-Med, Owandy Radiology and Arseus Medical in the first half of the year. Duo-Med was sold to ABN Amro Participaties, Owandy Radiology to Villa Sistemi Medicali based in Milan and Arseus Medical was acquired by entrepreneurs Cedric De Quinnemar and Jan Ponnet. A sum of € 30.2 million was received in these transactions, excluding earn-outs and vendor loans.
The divestment of these two divisions is a major strategic step in transforming Arseus into an innovative scientific pharmaceutical R&D company that is focused on optimising and innovating pharmaceutical compounding worldwide. From now on Arseus will concentrate fully on the worldwide rollout of Fagron’s unique business model. The innovative Fagron Advanced Derma Concept was introduced in the first half of 2014. This concept, which offers prescribers and pharmacists a total solution for treating patients with dermatological conditions, is already being used by many dermatologists in their treatment plans. In the second half of the year Fagron’s R&D department will focus on developing a concept aimed at pain management which will be introduced worldwide in the first quarter of 2015. This total concept enables pharmacists and prescribers to offer patients individualised care in controlling pain. Central to this concept is innovative, non-systemic transdermal pharmaceutical compounding, which can provide very localised pain treatment, thus limiting the side effects that frequently occur with the medication currently used, which is usually systemic.
Fagron has further strengthened its worldwide market leadership in the fast-growing niche market of pharmaceutical compounding with the acquisition of three pharmaceutical compounding facilities in Australia, Greece and South Africa. In total these compounding facilities are expected to generate turnover of € 3 million in 2014. Because of the quality of the organisation and its excellent operational processes, Fagron will be able to integrate these three acquisitions quickly and professionally. The three takeovers are expected to be finalised in July 2014.
Other information
Arseus was represented in these divestments by Nielen Schuman as financial advisor and by Allen & Overy LLP as legal counsel.
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
For further information:
Marieke Palstra
Director Investor Relations
+ 31 88 33 11 213 (office)
marieke.palstra@arseus.com
Arseus profile
Arseus is a scientific R&D company that supplies innovative solutions and concepts to professionals and institutions in the healthcare sector in 30 countries around the world. Arseus is made up of three divisions: Fagron is the global market leader in pharmaceutical compounding. Corilus develops and supplies medical specialists with unique integrated IT solutions with substantial added value. Corilus is the market leader in Belgium, France and the Netherlands. HL Technology develops and produces innovative precision components and orthopaedic tools for dental and medical professionals. 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.
[1] This press release was sent out by Arseus NV and Arseus BV.
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