aap Implantate AG (XETRA: AAQ.DE) announces that is has completed closing (notarization) of the agreement under which a Private Equity Company will acquire 100 percent of the shares of European Medical Contract Manufacturing B.V. (EMCM). EMCM is a contract manufacturing company and develops and manufactures medicinal products in the field of Biomaterials, Pharmaceuticals and Tissue Engineering.
The purchase price is EUR 18 million and payable in cash in three installments until the end of April 2014; one third of the purchase price has been received already.
Marek Hahn, CFO, comments: “The closing of this divestment represents a significant milestone in the strategic and financial progress we are making. It will allow us to build a broad based platform that can address the fundamental challenges in trauma healthcare, enabling new standards for infection prevention and resorbable implants.”
As a result of the transaction, aap plans to update its financial guidance for 2014 in its consolidated annual financial statements, which are currently scheduled for publication on March 31, 2014.