Getinge Group has recently performed a strategic review to clarify its long-term
strategy for ensuring sustainable and profitable growth. Getinge will focus on
two business areas, Acute Care Therapies and Surgical Workflows. In light of
this, the Board of Directors intends to propose to an Extraordinary General
Meeting a distribution of Patient & Post-Acute Care, formerly Extended Care, to
Over the last few months, Getinge has performed a company-wide strategic review
to clarify the most optimal long-term strategy for the company and to ensure
sustainable and profitable growth that captures growth opportunities for all
As a result, Getinge has decided to focus on two business areas, Acute Care
Therapies and Surgical Workflows. The Acute Care Therapies offering includes
solutions for cardiac, pulmonary and vascular therapies and a broad selection of
products and therapies for intensive care. Surgical Workflows develops products
and solutions for infection control, equipment for surgical workplaces and
advanced IT systems for hospitals.
Based on this long-term strategic direction, the Board of Directors has tasked
the management of Getinge Group to prepare for a distribution and listing of
Patient & Post-Acute Care, formerly Extended Care, in accordance with Lex ASEA*.
The proposal is subject to a decision by the shareholders at an Extraordinary
General Meeting (EGM) during the fall 2017. Should the EGM approve the Board’s
proposal, the aim is to complete the listing not later than during the first
quarter of 2018.
“The future listing of Patient & Post-Acute Care will increase the ability of
both companies to realize their strategies and to best continue to enhance
customer benefits and shareholder value,” says Joacim Lindoff, Acting President
& CEO of Getinge Group.
Patient & Post-Acute Care’s offering encompasses products and solutions for safe
patient handling, prevention of venous thromboembolisms, medical beds, hygiene
systems and early mobility, among others.
Following a split, both companies will have a more concentrated focus, with more
opportunities to continue to develop products and solutions to meet customer
needs and thereby help solve healthcare challenges.
The financial targets for both companies will be determined and presented as
part of the preparation work.
This announcement will be further addressed in the scheduled conference call
today, October 18, at 3.00 PM CET, hosted by Joacim Lindoff, Acting President &
CEO and Reinhard Mayer, CFO.
To join the conference, please call:
Swedish dial in number: +46 (0)8 5065 3942
UK dial in number: +44 (0)20 7026 5967
US dial in number: +1 719-325-2202
Participant passcode: 5615835
During the telephone conference a presentation will be held. To access the
presentation, please use this link:
* Lex ASEA means, in brief, that a parent company can, under certain
circumstances, distribute the company’s shares in a subsidiary to its
shareholders without any immediate Swedish taxation arising on the distribution
for the shareholders.
For further information, please contact:
Acting President &
xecutive Vice President Group Communications
Tel: +46 (0)10 335 32
: +46 (0)10 335 58 10
Getinge Group is a leading global provider of innovative solutions for operating
rooms, intensive-care units, hospital wards, sterilization departments, elderly
care and for life science companies and institutions. Getinge’s unique customer
offering mirrors the hospital’s organization and value chain, and the solutions
are used before, during and after the patients’ hospital stay. Based on first
-hand experience and close partnerships, Getinge provides innovative healthcare
solutions that improve every-day life for people, today and tomorrow.
This information is information that Getinge AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 12:59
p.m. CET on
October 18, 2016.GlobeNewswireglobenewswire.com
Last updated on: 19/10/2016