Yahoo Finance Closing of EMCM divestment represents a significant strategic milestone for aap
aap Implantate AG (AAQ.DE) announces that is has completed closing (notarization) of the agreement under which a Private Equity Company will acquire 100% of the shares of European Medical Contract Manufacturing B.V. (EMCM). EMCM is a contract manufacturing company and develops and manufactures medicinal products in the field of Biomaterials, Pharmaceuticals and Tissue Engineering.
The purchase price is EUR 18 million and payable in cash in three installments until the end of April 2014; one third of the purchase price has been received already.
Marek Hahn, CFO, comments: "The closing of this divestment represents a significant milestone in the strategic and financial progress we are making. It will allow us to build a broad based platform that can address the fundamental challenges in trauma healthcare, enabling new standards for infection prevention and resorbable implants."
As a result of the transaction, aap plans to update its financial guidance for 2014 in its consolidated annual financial statements, which are currently scheduled for publication on March 31, 2014.
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aap Implantate AG (ISIN DE0005066609) - Prime Standard/Regulated Market - All German stock markets -
About aap Implantate AG
aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company`s products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company`s products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap`s stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. 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, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: m.heydrich@aap.de
Press Release aap dated 5.3.2014
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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
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