Medartis Holding AG / Key word(s): Personnel
01-Nov-2019 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Medartis Holding AG
Change in the Executive Management Board of Medartis
Basel, Switzerland, 1 November 2019 - Medartis Holding AG (SIX: MED), a leading manufacturer and provider of medical devices for surgical fixation of bone fractures, today announced that Oliver Marx, Chief Sales Officer and Member of the Executive Management Board, has decided to leave the company as Medartis will strengthen its regional sales focus going forward. Christoph Brönnimann, Chief Executive Officer, will assume ad-interim responsibility for the sales organisation effective immediately.
In order to further drive Medartis' growth, the company intends to strengthen its sales organisation in the coming months through closer alignment with the individual regions and broader representation at Executive Management Board level. In this context, Oliver Marx, Chief Sales Officer and Member of the Executive Management Board since 2015, has decided to leave Medartis. The Board of Directors owes him thanks for his contribution to the successful development of the company.
The market heads responsible for the EMEA, North America, APAC and LATAM markets will report directly to Christoph Brönnimann, CEO of Medartis since 1 September 2019, until the details of the future sales structure have been defined.
Medartis' growth strategy focuses on the fastest growing orthopedic segments of the upper and lower extremities as well as the craniomaxillofacial region. In order to increase market penetration in these segments, Medartis strives to enhance sales performance in its direct markets in particular. A strong strategic focus is being placed on the US, which accounts for around 40% of total global sales in the extremities market. In addition, Medartis aims to strengthen capacity for innovation in-house and through partnerships, and to increase effectiveness when launching new products in the market. Related skills and processes within the company will be further developed to this end. Furthermore, Medartis remains alert to possible acquisition opportunities with value enhancement potential.
For the full year 2019, as announced in conjunction with the publication of the half-year results on 20 August 2019, Medartis expects to achieve sales growth of 8-10% in local currencies and an EBITDA margin on par with the first half of the year.
Christoph Brönnimann, CEO of Medartis: "Medartis is attractively positioned in a growing market. Given our broad international presence, a stronger regional sales focus is now an important step to leverage the growth potential in our markets even more effectively. We also want to take regional needs into greater account in product development, especially in the US, which is of key importance to us. Further, in our increasingly older and mobile society, it will be more and more important to enable patients with complex diagnoses to return to everyday life without any restrictions. To this end, innovation and agility are essential to swiftly bring new solutions and products to the market."
Head Corporate Services
Medartis Holding AG
Phone: +41 61 633 34 70
Founded in 1997 and headquartered in Basel, Switzerland, Medartis is one of the world's leading manufacturers and providers of medical devices for surgical fixation of bone fractures for upper and lower extremities as well as for the craniomaxillofacial region. Medartis employs over 600 individuals across its 13 locations, with products offered in over 50 countries globally. Medartis is committed to providing surgeons and operating theater personnel with the most innovative titanium implants and instruments as well as best in class service. For more information, please visit www.medartis.com.
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions. Further, neither the company nor any of its directors, officers, employees, agents, counsel or advisers nor any other person makes any representation or warranty, express or implied, as to, and accordingly no reliance should be placed on, the accuracy or completeness of the information contained herein or of the views given or implied.
End of ad hoc announcement