-- Straumann takes over distribution in largest asian market, gaining
direct access to customers through own subsidiary
-- Staff, networks and sales force are retained, ensuring seamless
continuity of the business and service to customers
BASEL, Switzerland, July 3, 2007 (PRIME NEWSWIRE) -- Straumann, a global leader in implant, restorative and regenerative dentistry today announced that it had completed the acquisition of Daishin Implant System (DIS), the exclusive distributor of Straumann implant products and services in Japan, for a purchase price of CHF 75 million in cash and an additional performance-based consideration of up to CHF 10 million, to be paid on or before 1 February 2014.
The acquisition provides Straumann with its own fully-fledged local subsidiary to serve the Japanese dental market directly. DIS is a privately-held company that enjoys a leading position as a distributor of products and services for implant dentistry in Japan. With Straumann as its exclusive partner in implant dentistry since 1984, Daishin has successfully built up a multibillion-yen business driven primarily by Straumann products. Headquartered in Osaka, DIS currently employs a staff of approximately 80 employees.
With effect of 2 July, Straumann will fully integrate DIS and book total sales and profits generated in Japan. As a result of the acquisition, Straumann will take over all assets of DIS, including workforce and customer network.
Gilbert Achermann, President and CEO of Straumann, commented: "Daishin is an established company that has developed impressively over the past two decades thanks to the entrepreneurship of Isao Nakajima, his family, and team. It is a privilege for us to build on the foundation they have laid. Although Japan is currently the biggest single market for Straumann in Asia, the penetration level offers further expansion opportunities -- which we fully intend to capture through adding resources, invigorating growth, and simply doing more for customers and their patients."
Today, Straumann is present in more than 60 countries worldwide, and, with the inclusion of Japan, now generates approximately 95% of its total revenues directly, with the remainder coming from distributors. Negotiations regarding the takeover of distribution in Korea from Straumann's largest remaining distributor are at an advanced stage.
About Straumann
Headquartered in Basel, Switzerland, the Straumann Group (SWX:STMN) is a global leader in implant and restorative dentistry and oral tissue regeneration. In collaboration with leading clinics, research institutes and universities, Straumann researches, develops and manufactures dental implants, instruments, prosthetics and tissue regeneration products for use in tooth replacement and restoration solutions or to prevent tooth loss. Straumann employs approximately 1750 people worldwide and its products and services are available in more than 60 countries through its broad network of distribution subsidiaries and partners.
Concerning forward-looking statements
This document contains certain "forward-looking statements", which can be identified by the use of terminology such as "seamless continuity", "will", "build", "further expansion", "intend", "adding", "invigorating", "growth", or similar wording. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion and takeover projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release. Straumann is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.
Straumann Holding AG, Peter Merian-Weg 12, 4002 Basel, Switzerland. Phone: +41 (0)61 965 11 11 / Fax: +41 (0)61 965 11 01 e-mail: investor.relations@straumann.com or corporate.communication@straumann.com Homepage: www.straumann.com