aap completes sale of biomaterials business
aap Implantate AG / aap completes sale of biomaterials business . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
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aap Implantate AG ("aap") today completed the sale of 100% of the company shares in its subsidiary aap Biomaterials GmbH. The buyer is Keensight Capital, a leading player in European Growth Private Equity.
By completing this transaction, aap receives proceeds of about EUR 36.6 million. After deduction of the estimated transaction costs the net inflow amounts to around EUR 35 million. According to preliminary calculations, the completion of the transaction will result in a positive one-time overall effect on the earnings level of EUR 19 million - EUR 20 million.
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 and biomaterials products for orthopedics.
The trauma portfolio includes besides the innovative anatomical plating system LOQTEQ® a wide range of cannulated screws as well as standard plates and screws. In the biomaterials business the
company is specialized on bone cements and mixing systems. In German-speaking countries aap Implantate AG directly sells its trauma products to hospitals, buying syndicates and
hospital groups while it uses a broad network of distributors in more than 60 countries at the international level. In the biomaterials business sales are handled via OEM and private label
cooperations with several selected international orthopedic and trauma companies. 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.