Getinge makes strategic acquisition with significant growth potential
Getinge makes strategic acquisition with significant growth potential As part of the Group's strategy to complement its own product development, Getinge Industrier has acquired all of the shares in Gestion Techno-Médic of Saint-Hyacinthe (Quebec) Canada. The company has sales of around SEK 22 million and 25 employees. Techno-Médic's main product is a unique ceiling-mounted hoist. The worldwide hoist market amounts to around 10,000 units and is mainly concentrated in north-west Europe and Japan. Arjo's current sales of hoists are relatively limited, corresponding to a market share of 5 - 10% globally. "Through a combination of Techno-Médic's uniquely competitive product and Arjo's global sales organisation, the Group expects to see a considerable expansion over the next one to three years. Above all, the North American ceiling-mounted hoist market is currently underpenetrated and Getinge considers its potential to be huge," says Johan Malmquist, Getinge Industrier's President and CEO. It is calculated that the acquisition will have a positive impact on the Group's EPS with effect from 2001. Getinge, 2 June 2000 Johan Malmquist President and CEO For further information please contact Johan Malmquist phone +46-35155533 Getinge Industrier is a medical-technical Group and a world leader in the fields of infection control, patient handling equipment and hygiene products for the elderly and disabled. The Group had sales of SEK 4,885 million in 1999 and 3,800 employees. GETINGE INDUSTRIER AB (publ.) Phone +46 35 15 55 00 VAT No SE556408503201 P.O. Box 69 Fax +46 35 549 52 Org.No. 556408-5032 SE-310 44 GETINGE www.getinge.com Registered office: Halmstad Sweden ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/02/20000531BIT01190/bit0001.doc http://www.bit.se/bitonline/2000/06/02/20000531BIT01190/bit0002.pdf