Elos clarifies focus – changes name to Elos Medtech
On 27 April 2015, the Annual General Meeting of Elos AB (publ) resolved to change the company’s name/registered name to Elos Medtech AB. Since 1989, the company has been listed on Nasdaq Nordic Stockholm Exchange, the Small Cap list, with a classification in the Health Care sector since February 2008.
In recent years, Elos Medtech’s operations have been streamlined based on a well-defined strategy to develop and strengthen the Group’s market position in selected medical technology segments and to create a global structure. To highlight the focus of the operation and create a more cohesive Group structure, the Group’s name is now Elos Medtech.
“Over the years, Elos Medtech has successively developed into a leading development
and production partner in the field of medical technology products, such as dental and orthopaedic implant systems and instruments. Recent events, such as the divestment of subsidiaries in the Metrology business area in 2014 and the recent acquisition of the US-based Onyx Medical, were logical steps in our strategy to focus and expand in selected segments of the medical-technology market,” says Johannes Lind-Widestam, President and CEO of Elos Medtech AB.
Elos Medtech has traditionally worked on developing products for other companies. However, in line with the general trend in the medical technology industry, the company has continuously introduced proprietary innovative products. “In recent years, we have developed a number of dental products contributing to an efficient digital workflow. We collaborate with globally leading dental implant companies specialised in 3D scanning and CAD/CAM solutions. During 2015, we intend to introduce products in the spine area,” says Lind-Widestam.
The renaming to Elos Medtech emits signals to:
- the stock market, showing that the Group has clarified and strengthened its strategic focus
- our international customers and suppliers, showing that the Group is now fully focused on medical technology; the subsidiaries already have names beginning with Elos Medtech.
“The main reason for the new name is the clarity we achieve and the benefits a shared name provides by making it easier to identify the units as part of a larger whole. This leads to advantages, particularly when major business transactions are being discussed,” says Lind-Widestam.
The ticker code on Nasdaq will not change; the share is called ELOS B as in the past.
Lidköping, 22 May 2015
Elos Medtech AB (publ)
For further information, contact:
Johannes Lind-Widestam, President and CEO, 46 (0)705-41 72 22, e-mail: email@example.com
For additional information visit www.elosmedtech.com
The information in this press release is such that Elos Medtech AB is obligated to publish in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was issued for publication on 22 May 2015, at 8:00 a.m. (CET).