Elos Medtech transfer business within the segment Hearing Device & Vibration

Elos Medtech announces that in consultation with Bruel & Kjaer, an agreement has been signed for the transfer of business operations related to the assembly and calibration of products in the sound and vibration market. In 2018, Elos Medtech has increased focus on medical technology and this transfer is in line with our strategy.

“Our strategic work on strengthening and clarifying our global offering as a specialized partner continues within medical technology”, says Jan Wahlström CEO and President. “With this transfer, we can focus our resources in a more efficient way and our business will be strengthened and allow us to become more competitive.”

The production of accelerators is currently located at Elos Medtech Pinol, in Görlöse, Denmark. The transfer of the business, which relates to all processes within assembly and calibration, will take place during the first half of 2019 and will not affect the Group's results during current year. To secure competence and supply of products, the personnel affected will be offered the opportunity to move with the operations to Bruel & Kjaer's plant in Naerum, Denmark.

Elos Medtech is one of the leading development and production partners for medical technology products and components in the world, with focus on dental and orthopedic implants and instruments. The operations are conducted at facilities in Sweden, Denmark, China and the US. Customers are medical technology companies operating internationally.

Elos Medtech employs more than 500 people worldwide and generates revenue that exceeds MSEK 550. Elos Medtech has been traded on NASDAQ Stockholm AB since 1989. The Elos Medtech B share is classified as a Health Care company on the Small Cap list.

Gothenburg, January 9, 2019

Elos Medtech AB (publ)

For further information, contact:

Jan Wahlström, President and CEO, +46 70-212 18 89, jan.wahlstrom@elosmedtech.com 
Sören Olesen, Managing Director Elos Medtech Pinol, +45 40 41 28 82, soren.olesen@elosmedtech.com
 

This is the type of information that Elos Medtech AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was issued for publication by the contact persons stated above on January 9, 2019, at 13.30 (CET).

For additional information about the Elos Medtech Group, visit www.elosmedtech.com

About Us

Elos Medtech is one of Europe's leading development and production partners for medical technology products and components, such as dental and orthopaedic implants and instruments. The operations are conducted at facilities in Sweden, Denmark, China and USA. Customers are mainly internationally active medical technology companies in the market segments Dental Implant Systems, Diagnostics, Medical Devices and Trauma & Spine. Elos Medtech employs more than 500 people worldwide and generates revenue that exceeds MSEK 550. Elos Medtech has been traded on NASDAQ Stockholm AB since 1989. The Elos Medtech B share is classified as a Health Care company on the Small Cap list.