Press release BoxID: 312539 (aap Implantate AG)
  • aap Implantate AG
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  • 12099 Berlin
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  • Marc Heydrich
  • +49 (30) 75019-134

aap Sells Analytics Division

(PresseBox) (Berlin, ) aap Implantate AG, a medical technology company listed in the Frankfurt stock market's Prime Standard segment and active in the fields of medical biomaterials, fracture healing and joint replacement, has sold to a Dutch investor its analytics division, comprising Dutch subsidiaries Bactimm and Farmalyse and defined as a noncore business activity since the beginning of 2009. Both companies have a cumulated Enterprise Value of EUR 3.3 million.

The transaction leads both to improvements in the monetary sector and to decisive quality benefits for the aap Group. It reduces Group employee numbers by a further 37, or 24 percent in all compared with December 31, 2008. By selling both companies and on the basis of Analytics sales of around EUR 2.5 million, aap expects at Group level a decrease of the EBITDA of around EUR 0.3 million for the fiscal year 2010. The Group's improved cash position of around EUR 2.3 million and the reduction of the financial liabilities of around EUR 1.0 million will result in a further optimization of the debt coverage ratio.

In these difficult economic times the management also attached importance to the transaction's social compatibility. Both locations are to be maintained, the management has a share in the company, and all of the employees have been retained.

After the handover of dental sales to an exclusive distributor, the closure of the Düsseldorf location, and the concentration of R&D activities on its three core business areas, aap has in selling the analytics division reached a further milestone its strategic realignment to Ortho, Trauma and Spine business. The sale of the analytics division and the further reduction in the number of locations that it involves increases the agility and flexibility of aap. Its consistent strategic focus makes the business model easier to understand and more attractive for investors.

aap will publish details of its planning for the fiscal year 2010 along with its interim sales figures in January of next year.