Mortsel (Belgium), January 13, 2005. Agfa-Gevaert announces that following regulatory approval from the German and Austrian anti-trust authorities the acquisition of GWI has been closed on January 13, 2005. GWI is one of the leading European companies active in the fast growing market of Healthcare information systems and the Electronic Patient Record.
The transaction price consists of an up-front payment of 256.5 million Euros and an earn-out of up to 95 million Euros, dependent on the achievement of specific commercial milestones. The purchase price will be settled in cash. The accounts will be consolidated beginning January 14, 2005. The acquisition is immediately cash accretive but will have a dilutive effect on Earnings per Share to the extent of approximately 3%-5% during the first two years.
GWI, a private German AG founded in 1990, headquartered in Bonn, Germany, develops and markets administrative and clinical IT solutions for hospitals through its fully integrated and scalable IT solution ORBISÒ ". ORBISÒ is one of the most flexible and functional information systems available today. It encompasses a fully integrated range of general administration, workflow and documentation systems as well as highly specific clinical departmental systems. GWI's customer base comprises more than 2,000 medical sites in Germany, Austria, Switzerland and France.
Taking account of the full year revenues of its recent acquisitions, GWI expects to realize 2004 revenues of around 118 million Euros, with an operating result of 20 million Euros.
About Agfa
The Agfa-Gevaert Group is one of the world's leading imaging companies. Agfa develops, manufactures and markets analogue and digital systems, intended mainly for the graphics industry and healthcare. Agfa's headquarters are in Mortsel, Belgium. The company is active in 40 countries and has 120 agents throughout the world. Together they achieved a turnover of 4,215 million Euros in 2003.
Product and company information can be found on Agfa's home page on the World Wide Web at: www.agfa.com.
Contact:
Agfa-Gevaert
Johan Jacobs
Corporate Press Relations Manager
tel. ++32 (0)3/444.80.15
