Closing of EMCM divestment represents a significant strategic milestone for aap
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.
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.