PresseBox
Pressemitteilung BoxID: 787112 (aap Implantate AG)
  • aap Implantate AG
  • Lorenzweg 5
  • 12099 Berlin
  • http://www.aap.de
  • Ansprechpartner
  • Fabian Franke
  • +49 (30) 75019-134

aap sells biomaterials business for EUR 36 million and becomes a pure player in trauma with innovative technologies

Closing of the transaction will lead to adjustment of 2016 guidance; Postponement of publication of consolidated and annual financial statements 2015

(PresseBox) (Berlin, ) aap Implantate AG ("aap") signed a notarized share purchase agreement today with a leading European private equity firm for the sale of 100% of the company shares in its subsidiary aap Biomaterials GmbH, which has its registered office in Dieburg. The purchase price is based on an assumed enterprise value of aap Biomaterials GmbH of EUR 36 million and will be due for payment after closing of the transaction. The closing of the transaction is subject to the market standard conditions precedent, which are to be met within the next three months. Upon closing of the transaction, the existing profit and loss transfer agreement between aap and aap Biomaterials GmbH will be terminated.

The operation sold within the transaction (discontinued operation) consists of aap Biomaterials GmbH, which is specialized in the development, production and marketing of bone cements, mixing systems and related accessories, and aap's distribution business in this area. In 2015, the operation sold recorded sales based on preliminary figures amounting to EUR 16.0 million.

The closing of the transaction will result in a positive one-time deconsolidation effect on the earnings level. The company plans to use part of the proceeds to finance further growth and to distribute part of them to its shareholders.

The complete consolidated and annual financial statements as of 31 December 2015 of aap will be published by 29 April 2016 the latest. The reason for the delay in the publication is the sale of aap Biomaterials GmbH, which must already be stated as a so-called discontinued operation in the consolidated financial statements for 2015. This leads to extensive reporting requirements in the notes and the management report as well as in various presentations of results in the consolidated financial statements.

Upon closing of the transaction, aap's previous sales and EBITDA forecast for the 2016 financial year will be no longer valid. The company will publish a new and updated guidance for the current financial year after closing. In this context, aap aims to announce also further details regarding the use of a part of the proceeds for the benefit of the shareholders.

The closing of the transaction is the last step in the transformation of aap from a general medtech company to a pure player in trauma.

aap Implantate AG