DGAP-Adhoc: aap Implantate AG divests its contract

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News Desk 2018

Feb 24, 2014 at 11:45 AM

DGAP-Adhoc: aap Implantate AG divests its contract manufacturing business for EUR 18 million cash to private Equity company

aap Implantate AG / Key word(s): Strategic Company Decision/Disposal 24.02.2014 17:30 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- aap Implantate AG (XETRA: AAQ.DE) announced today a definitive agreement under which a Private Equity Company will acquire its contract manufacturing business that is concentrated in its subsidiary, European Medical Contract Manufacturing B.V. (EMCM). The purchase price for all shares in EMCM is EUR 18 million and payable in cash under a deferred payment schedule. The cash consideration will flow to aap in three installments until end of April 2014. Closing (notarial attestation) is expected to occur within the next days. EMCM develops and manufactures sterile medicinal products for the Biomaterials, Pharmaceuticals and Tissue Engineering markets and achieved revenues of EUR 12 million in 2013. The transaction will result in a one-time non-cash deconsolidation effect of approx. EUR 4.0 million to EUR 4.5 million. In the process, the company decided to adjust its capitalization policy for its Biomaterials activities and to stop all respective development projects. This will result in a one-time non-cash extraordinary depreciation of capitalized development costs of approx. EUR 2.3 million. The mentioned effects will be accounted for in the consolidated financial statements for 2013 and will affect the EBIT. The contract manufacturing business will be presented as a discontinued operation in aap's consolidated financial statements for 2013. The transaction supports the Company's strategy to focus on its high growth Trauma and bone cement business. The proceeds will be used for accelerating the development of further LOQTEQ(R), silver coated and magnesium trauma products. Furthermore, aap will start evaluating strategic acquisition opportunities that support the trauma growth strategy. aap will comment the transaction in more detail and elaborate more on the financial impact in a separate press release. ________________________________________________________________________ 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 24.02.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: aap Implantate AG Lorenzweg 5 12099 Berlin Germany Phone: +49 (0) 30 75 01 90 Fax: +49 (0) 30 75 01 91 11 E-mail: info@aap.de Internet: www.aap.de ISIN: DE0005066609 WKN: 506660 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, Hannover, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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