ARSEUS MEDICAL STRENGTHENS MARKET POSITION
IN BELGIUM AND THE NETHERLANDS
Waregem (Belgium), 30 September 2009 – Arseus has completed the acquisition of Duo-Med, a leading supplier of innovative medical technology to hospitals in the Benelux. Duo-Med realised turnover of approximately €6 million in 2008, with a double digit EBITDA margin. The acquisition will make a positive contribution to Arseus Medical’s profitability.
The acquisition of Duo-Med is consistent with Arseus Medical’s strategy of focusing on offering highly distinctive medical products with substantial added value. Duo-Med specialises in niche products used in open and minimally invasive abdominal, gynaecological and urological surgery. Duo-Med also has a well-filled pipeline of new technologies, offering high added value, in growth markets such as obesity, micro laparoscopy and colorectal surgery. Duo-Med’s product range perfectly complements Arseus Medical’s offerings.
Mario Huyghe, CEO of Arseus Medical: ‘The acquisition of Duo-Med fits perfectly with Arseus Medical’s growth strategy, focusing on exclusive distributorships for high added value products in health care. Many of Duo-Med’s distributions are also exclusive for the Benelux, creating immediate opportunities to launch these high-quality medical products, which have been such a success in Belgium, in the Netherlands as well via the Arseus Medical team. This will enable us to accelerate the growth of our business in the Dutch market.’
Ger van Jeveren, CEO of Arseus: ‘The Duo-Med acquisition will advance and reinforce Arseus Medical’s leading position in the Benelux and is consistent with the strategy adopted in 2009. It will pave the way for Arseus Medical’s sustained growth as a focused distributor of high-quality medical solutions and consumables.’
Duo-Med’s results will be included in the consolidation with effect from 1 September 2009.
This is a translation of the Dutch press release; the Dutch press release prevails.
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