STOCKHOLM, Sweden, June 24, 2003 (PRIMEZONE) -- Today Getinge (Other OTC:GNGBF) announces that German competition authorities (Bundeskartellamt) have approved the acquisition of the Jostra group. The condition for the acquisition has thus been fulfilled.
Jostra is a leading manufacturer of equipment and disposables for open- heart surgery. With the acquisition, Getinge's existing activities of Surgical Systems as a global leader in advanced surgical work-stations for all surgical disciplines, has been complemented with a leading range of therapy products for cardiac surgery.
Getinge's target is to improve Jostra's EBIT margin after goodwill amortization to 12-15% in a three-year period. Contribution to group earnings in 2003 will be slightly negative to neutral. Contribution to group pre-tax profit including goodwill amortization and related financial charges will be in the range of EUR 5-6 million in 2004.
Getinge, 24th June 2003
Johan Malmquist, President & CEO
Getinge is a leading provider of equipment and systems to customers within health care, extended care and pharmaceutical industries/laboratories. Equipment, services and technologies for infection control, operating theatres, patient hygiene, patient handling and wound care are supplied to customers throughout the world. Getinge has a sales turnover of approx. 9 billion SEK with 6 000 employees.
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