IGEA Pharma N.V. 145 0 Kommentare IGEA and RBCARE2023 signed to combine their businesses

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IGEA Pharma N.V. and RBCARE2023 signed an agreement to combine their businesses.
The business combination is expected to close on or before June 30, 2024.
RBCARE expects to achieve revenues of EUR 110 million with an EBITDA of EUR 12 million over the next 12 months.

IGEA Pharma N.V. / Key word(s): Agreement/Agreement
IGEA Pharma N.V.: IGEA and RBCARE2023 signed to combine their businesses

03-Oct-2023 / 23:55 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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IGEA and RBCARE2023 signed to combine their businesses

Hoofddorp, the Netherlands, 2 October 2023. IGEA Pharma N.V. (SIX: IGPH) announced the signing of a letter of intent, binding upon the parties in terms, with RBCARE2023 LTD (“RBCARE”), a private limited company established beginning of 2023 to develop the elderly care business in residential and nursing settings in the United Kingdom, to combine the two companies’ businesses. Closing is subject to customary conditions for a transaction of this type (as defined below), including IGEA remaining a SIX listed entity. The business combination will be achieved by the RBCARE shareholders contributing in-kind their shares against subscription of newly issued shares in a dedicated share capital increase of IGEA.

The key element of the combination is the significant value improvement for their businesses, stockholders and stakeholders expected by both parties. Based on plans, RBCARE expects to achieve revenues of EUR 110 million with an EBITDA of EUR 12 million over the next 12 months, managing directly and in its network about 2,400 care beds.

Pierpaolo Cerani, CEO and director of IGEA “With this combination, we expect to finally grant continuation to IGEA and to substantially contribute to the value improvement for our shareholders.”