Medartis Holding AG / Key word(s): Investment
01-Dec-2020 / 06:59 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
Medartis acquires stake in KeriMedical and strengthens its extremities portfolio
Basel, Switzerland, 1 December 2020 - Medartis Holding AG (SIX: MED) has acquired a strategic minority stake in KeriMedical, a Geneva-based company specialized in implants for hand and wrist surgery. The agreement includes a partnership in distribution to drive the international expansion of the KeriMedical portfolio, as well as in product development. With this partnership, Medartis takes a significant step towards becoming a complete solution provider in its strongest segment, hand and wrist.
Medartis has acquired a stake of 25% in KeriMedical effective 30 November 2020 for a purchase price of CHF 10 million and is granted a seat on its Board of Directors. A significant share of the capital invested by Medartis will be used for access and development of the US market for the KeriMedical portfolio. This includes KeriMedical's flagship product, the Touch prosthesis, which is used to treat basal thumb osteoarthritis. Under the agreement, Medartis receives exclusive distribution rights in selected markets, among others in the US, Germany, Austria, UK and Australia to drive the international expansion of the KeriMedical portfolio.
KeriMedical has extensive expertise in prosthetics for small joints, soft tissue fixation and nerve regeneration. The company is setting new standards in particular with its products in the area of thumb and finger joints, for example in the treatment of osteoarthritis in the hand, which affects more than 60% of all people aged over 55. With the combined portfolio, Medartis will expand its product offering for hand and wrist surgeons for the treatment of fractures, osteoarthritis, soft tissue and nerve injuries.
In order to address this untapped market potential, KeriMedical and Medartis have further agreed to pursue a partnership in product development in the area of arthroplasty in small joints and soft tissue fixation in upper extremities. Furthermore, the partnership may create a basis for exploring opportunities in lower extremities over time.
Founded by Bernard Prandi and Dougal Bendjaballah in 2016, KeriMedical aims to develop and promote a full range of implants for hand and wrist surgery in line with the expectations and needs of both surgeons and patients. The KeriMedical team combines wide experience in orthopaedic surgery and has expertise at all levels of the value stream: research & development, manufacturing, quality, training, marketing and distribution of products. KeriMedical relies on a panel of internationally renowned surgeons with recognised experience in the field. These specialists contribute their clinical and medical expertise as part of the development and validation of new solutions. The company is headquartered in Geneva, employs around 70 staff and operates in twenty European markets. For more information, please visit www.kerimedical.com.
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 around 630 individuals across its 13 locations, with products offered in over 50 countries globally. Medartis is committed to providing surgeons and operating theatre personnel with the most innovative titanium implants and instruments as well as best in class service. For more information, please visit www.medartis.com.
Head Corporate Services
Medartis Holding AG
Phone: +41 61 633 34 70
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