ESPERITE N.V. (ESP) SELLS ITS STAKE IN CRYOSAVE SOUTH AFRICA TO GO LIFE HEALTHCARE (GLI).
GlobeNewswire
CryoSave in its joint venture with Ecsponent (ECS) at equal participation have sold 100% of their stake for ZAR 50,000,000 (Fifty Million South African Rand).
As a leading stem cells bank, CryoSave SA will continue to assist Go Life Healthcare with its long-established professionalism and expertise.
Amsterdam, The Netherlands - 2 July 2018
CryoSave announces that this transaction, effective 30 June 2018, will provide Esperite Group with additional resources to continue its international development now focused on Europe, Eastern Europe, Middle East and Africa. It will further support Esperite`s strategic vision to consolidate its footprint on the healthcare sector, a rapidly expanding market.
Ecsponent and Esperite were both detaining 50% of Cryo-Save South Africa in a joint venture established 5 years ago.
CryoSave South Africa, sold for ZAR 50 million (= EUR 3.1 million) had revenues for the calendar year 2017 (January - December) amounting to ZAR 25.3 million (= EUR 1.6 million) and negative EBITDA of ZAR 2.7million (= EUR 0.2 million). CryoSave South Africa was then sold for a price equivalent to two times the revenues.
The total purchase price payable by Go Life Healthcare to Esperite N.V. in respect of the Shares and the Loan Accounts, is ZAR 20 million (Twenty Million South African Rand).
The transaction is subject to customary closing conditions and this is expected to occur in the Q3 2018.
Go Life is a dynamic group, operating in the healthcare sector with an aggressive acquisition strategy for expansion in focused, niche businesses. The Group is already established in the frail care, nutraceutical and cosmeceutical industry.
This transaction is a strategic fit for CryoSave`s stated objective to maintain and grow its leadership position in the local stem cell industry.
CEO of Esperite, Frédéric Amar says: " We are confident of the synergies between Cryo-Save South Africa and Go Life Healthcare. We will continue the support needed with our long established expertise on the stem cells industry to compound our leadership on this global market."
About CryoSave
Established in 2000, CryoSave is the most experienced, reliable and technologically advanced family Stem Cell Bank in Europe, fully authorized for autologous and allogeneic transplantations by the Swiss State Agency for therapeutic products and accredited as a licensed Organ and Tissue Establishment.
The state of the art laboratory in Geneva, Switzerland has an ideal location in the heart of Europe offering regulatory and geopolitical stability. Protected by advanced regulations, the Geneva Health Valley represents a hub of excellence and innovation.
About Esperite
ESPERITE N.V. is a diversified biotech global group leader in regenerative and precision medicine. Established in 2000, the holding group is headquartered in the Netherlands, listed at Euronext Amsterdam and Paris and operational in over 30 countries.
ESPERITE transforms the power of state-of-the-art technologies and scientific advancements into high quality products that bring the future of medicine to customers today at an affordable price.
To learn more about the ESPERITE group, or to book an interview with CEO Frederic Amar: +31 575 548 998 - ir@esperite.com or visit the website at www.esperite.com
About the Go Life group
Go Life International Limited successfully listed on the AltX of the Johannesburg Stock Exchange on 23 November 2016.
Go Life International is a multi-faceted healthcare company offering a comprehensive all-inclusive product range; addressing market needs from pharmaceutical, generic, nutraceutical, medical consumables through to high end sophisticated hospital equipment.
Go life caters for the informal market as well as the middle to upper expenditure segment of the formal market. The Go Life ranges of products are manufactured in an established Medicines Control Council registered production facility in South Africa. Go Life boasts an established infrastructure managed by experienced team with international expertise in areas such as development of digital enablement platforms, research and development, international distribution and innovative marketing strategies.
***
This press release contains inside information as referred to in article 7 paragraph 1 of Regulation (EU) 596/2014 (Market Abuse Regulation).
With respect to Member States of the European Economic Area that have transposed European Directive 2003/71/EC of the European Parliament and European Council (as amended in particular by Directive 2010/73/EU to the extent that the said Directive has been transposed into each Member State of the European Economic Area), no action has been taken or will be taken to permit a public offering of the securities referred to in this press release requiring the publication of a prospectus in any Member State. This press release and the information it contains do not, and will not, constitute an offer to subscribe for or sell, nor the solicitation of an offer to subscribe for or buy, securities of Esperite in the United States of America or any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), it being specified that the securities of Esperite have not been and will not be registered within the US Securities Act. Esperite does not intend to register securities or conduct a public offering in the United States of America.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Esperite N.V. via GlobeNewswire HUG#2202414
