Bactiguard completes acquisition of Vigilenz
Bactiguard Holding AB (publ) (“Bactiguard”) has completed the acquisition of Vigilenz Medical Devices and Vigilenz Medical Supplies (together Vigilenz), which was announced on 4 February 2020.
All conditions precedent have been fulfilled and the first part of the total consideration, consisting of a cash payment of USD 4.5 million, has been paid. The remaining part of the consideration, 241 512 new class B-shares in Bactiguard, is subject to approval by the annual general meeting of shareholders in Bactiguard on 28 April 2020.
The cash portion has been financed through bank facilities provided by Skandinaviska Enskilda Banken (SEB), with a term of three years. At the same time, the term of Bactiguard’s current bank facility with SEB has been extended by the same tenor.
The Bactiguard Board of Directors has approved the transaction and shareholders including Christian Kinch, Thomas von Koch, Jan Ståhlberg, The Fourth Swedish National Pension Fund (AP4) and Nordea Investment Funds, together representing approximately 66 percent of the capital and 84 percent of the votes in Bactiguard have declared that they will support the issuance of new class B-shares at the AGM.
The newly acquired companies will be consolidated in Bactiguard's financial accounts from March 2020. At the same time, the integration of the companies has been initiated, which means, among other things, that the product portfolios will be sold through both companies' distribution networks.
Link to initial announcement >>>
Vigilenz is a privately-owned, manufacturer and supplier of medical devices and consumables, incorporated in Malaysia in 2002. From its home market, Vigilenz has expanded to covering over 26 countries. The company has approximately 100 employees and a modern ISO class 8 production facility located at the company headquarters in Penang. Its field sales force covers the entire Malaysian market, whereas export sales are handled through distributors.
Vigilenz offers a wide range of products, primarily in wound management and infection control. The product range consists of absorbable and non-absorbable sutures, hernia mesh, HYDROCYN aqua®, an innovative wound wash, debridement agent & cleaning solution for acute & chronic wounds, as well as Bactiguard-coated orthopaedic trauma implants.
Vigilenz is ISO 13485:2016 certified and designs and develops Class II and III CE marked products. It was the first Malaysian company to attain a Class III CE marked product. Some of the products are FDA registered and the company has also received HALAL certification.
For more information please visit www.vigilenzmd.com
For further information, please contact:
Cecilia Edström, CEO, cell phone: +46 72 226 23 28
Bactiguard is a Swedish medical device company with a mission to save lives. To achieve this mission, we develop and supply infection prevention solutions which reduce the risk of healthcare associated infections and the use of antibiotics. This way, we save significant costs for healthcare and the society at large.
The Bactiguard technology prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard offers the technology through licence agreements and our BIP (Bactiguard Infection Protection) portfolio of products. Through our licence partner BD, urinary catheters with Bactiguard’s coating are market leading in the USA and Japan. Bactiguard’s own product portfolio of urinary catheters, endotracheal tubes and central venous catheters prevent some of the most common infections, which appear in the urinary tract, the blood stream and the respiratory tract.
Bactiguard is in a strong expansion phase in the European markets, China, India and the Middle East as well by establishing license agreements in new therapeutic areas. The company has about 70 employees around the world. Its headquarters and one of two production facilities are located in Stockholm, the other one in Malaysia. Bactiguard is listed on Nasdaq Stockholm.
Read more about how Bactiguard saves lives at www.bactiguard.com