PlasmaSelect AG / Joint Venture
21.11.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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PlasmaSelect AG includes Italian affiliates NovaSelect and AltaSelect in
joint venture with Diaco S.p.A.
New growth and efficiency potential will have positive impact on corporate
results
Munich, 20.11.2008 PlasmaSelect AG (Securities Code Number 547 180), the
Munich-based investment holding company in the healthcare and water
treatment market, has achieved a further milestone in advancing its
transformation from an operational corporate holding in the healthcare
sector into an investment holding company. On 14 November 2008, the
Supervisory Board approved a joint venture with the Triest-based Italian
Diaco Group. In this, PlasmaSelect will sell its Italian affiliates to an
Austrian holding company which will simultaneously acquire Laboratori Diaco
Biomedicali S.p.A. ('LDB'), a 100 % subsidiary of Diaco S.p.A. PlasmaSelect
will own 40 % of the holding, which will operate under the name of Diaco
Medical Group GmbH, while Diaco S.p.A. and an affiliate of Diaco will hold
45% and 15% respectively. The purchase prices are 3 million for
AltaSelect, 8 million for NovaSelect and 5 million for LDB, payable
over five years from the liquid funds of the holding company. As the
purchase prices are slightly below book value, PlasmaSelect anticipates a
loss of approximately 1 million from the move. Deconsolidation of the
companies will go ahead in the current fiscal year.
The action continues PlasmaSelect AG's consistent strategy of generating
added value and increasing shareholder value. It marks the approaching
completion of the restructuring and reorganization of the company's
healthcare division launched three quarters ago. PlasmaSelect anticipates
that positive effects from the economies of scale in purchasing and
production capacities for the new major name in the infusion solution
sector will manifest themselves relatively soon. Thanks to the size of the
new company, it will also have the potential to enter new markets and
generate additional positive effects on business results in the forthcoming
fiscal year. The PlasmaSelect Group will also benefit from Diaco's
marketing of high-margin medical technology products.
'We have taken a major step towards our clearly defined goal of generating
double-digit operating margins and sustained market positions in the
healthcare sector', announces Bernhard Giessel, CEO of PlasmaSelect AG. 'By
forming the Diaco Group, PlasmaSelect has succeeded not only in solving the
problematic situation of individual subsidiaries, but also in gaining a 40%
share of one of the top 5 companies in the infusion solution market. The
impetus and market position of the joint venture will have a positive
long-term effect on consolidated results for the PlasmaSelect Group.'
The managing director of the new parent company of the new joint venture is
Pierpaolo Cerani, principal owner of the Diaco Group. The two-man
Supervisory Board will include the CEO of PlasmaSelect. Pierpaolo Cerani
founded Diaco in 1995 and established the company as one of Italy's leading
pharmaceutical and medical technology suppliers.
Further information can be downloaded from www.plasmaselect.de under the
heading 'Investor Relations'.
PlasmaSelect AG
Founded in 1998 as a specialist in the sale of infusion and irrigation
solutions and complementary medical products, today PlasmaSelect AG is an
investment holding company on the healthcare and new technologies market.
In addition to the joint venture, the holding currently comprises three
operating subsidiaries with a total of almost 200 staff worldwide. In
fiscal 2007 (as of 30 November 2007) the company reported consolidated
sales of EUR 56.3 million.
PlasmaSelect AG is listed on the Regulated Market (Prime Standard) of the
Frankfurt Stock Exchange (securities ID 547 180). For more information
please see www.plasmaselect.de
DGAP 21.11.2008
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Language: English
Issuer: PlasmaSelect AG
Pettenkoferstraße 22
80336 München
Deutschland
Phone: +49 (0)89 810 29-0
Fax: +49 (0)89 810 29-111
E-mail: info@plasmaselect.de
Internet: www.plasmaselect.de
ISIN: DE0005471809, DE0005471809
WKN: 547180, 547180
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-News: PlasmaSelect AG includes Italian affiliates NovaSelect and AltaSelect in joint venture with Diaco S.p.A.
| Source: EQS Group AG