- Final step on the way to a pure player in trauma
aap Implantate AG ("aap") announces the successful completion of the sale of the remaining stake of 33% in aap Joints GmbH. The company fulfilled the conditions agreed on in the share purchase agreement of 23 September 2016 so that the share transfer will now be executed.
By completing this transaction, aap receives an amount of about EUR 0.4 million by year end. According to calculations to date, the company generated sales of about EUR 1 million with a relative low margin share with aap Joints GmbH in financial year 2016. In the next year the business relationship will be restricted to few manufacturing services and service activities which will only make a low contribution towards sales.
In aap Joints GmbH all the orthopaedic activities (knee, hip and shoulder) were bundled together with the C~Ment®-line. In the course of the consequent focusing on the trauma business aap has already sold 67% of the shares in aap Joints GmbH in 2013. By selling the remaining stake of 33% aap now takes the final step on the way to a pure player in trauma.
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 products for orthopaedics. The IP protected portfolio includes besides the innovative anatomical plating system LOQTEQ® and trauma complementary biomaterials a wide range of cannulated screws as well as standard plates and screws. Furthermore, aap Implantate AG has an innovation pipeline with promising development projects as the antibacterial silver coating technology and magnesium based implants. These technologies address critical problems in surgery that haven't yet been resolved adequately. In German-speaking Europe aap Implantate AG directly sells its products to hospitals, buying syndicates and hospital groups while it uses a broad network of distributors in more than 25 countries at the international level. 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.
Forward-looking statement
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.
For inquiries please contact: aap Implantate AG, Fabian Franke, Investor Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: f.franke@aap.de