aap Implantate AG / aap completes the spin off of its non-core business dental . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
aap announces that it has sold its remaining 50% shares in the dental joint venture, aap BM productions GmbH, to botiss medical AG for EUR 1 million in cash. botiss has exercised the option to buy the remaining 50% of the shares of the joint venture. In 2012, together with the specialized dental partner botiss, the joint venture was spun off out of the aaps subsidiary aap Biomaterials GmbH to concentrate the non-core activities in a separate entity. Through this attractive transaction, aap Biomaterials GmbH becomes a dedicated OEM manufacturer for bone cements and mixing devices.
The transaction will have an immediate impact on the aap Biomaterials GmbH sales: a negative sales effect for the full financial year 2014 of approx. EUR 1 million. The EBITDA effect will be nearly neutral as a result of related cost reductions.
As of June the 1st, aap Implantate AG appointed its current VP for R&D Dr. Daniel Zukowski (48) as the new managing director of aap Biomaterials GmbH. Next to his medtech business competencies, Dr. Zukowski has contributed to the development of the company for the past eight years in various leadership positions. His background makes him best positioned to lead aap Biomaterials GmbH to the next growth phase for bone cements and proprietary mixing devices/closed application devices.
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aap Implantate AG (ISIN DE0005066609) - Prime Standard/Regulated Market - All German stock markets -
About aap Implantate AG
aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company's products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company's products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap's stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. For more information, please visit www.aap.de, or download the Company's investor relations app from the Apple's App Store or Google Play.
Forward-looking statement
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.
For inquiries please contact: aap Implantate AG, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: m.heydrich@aap.de (mailto:m.heydrich@aap.de)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: aap Implantate AG via Globenewswire
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aap Implantate AG
Lorenzweg 5 Berlin Germany
WKN: 506660;ISIN: DE0005066609;
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