Atrium Medical Corporation has signed an agreement to divest its biosurgery business to HJ Capital 1, the parent company of SeCQure Surgical Corporation, a global medical device company.
GOTHENBURG, Sweden, Oct. 18, 2018 /PRNewswire/ -- Atrium Medical Corporation, a subsidiary of Getinge, has signed an agreement to divest its biosurgery business to HJ Capital 1, the parent company of SeCQure Surgical Corporation, a global medical device company. The deal is expected to close in the fourth quarter of this year subject to receipt of customary regulatory approvals and satisfaction of other customary closing conditions. Sales in 2017 relating to the biosurgery business amounted to approximately SEK 128 M. The divestment will have no material financial impact on results or financial position.
The biosurgery business was added to Getinge’s therapeutic portfolio via the acquisition of Atrium Medical in 2011. The business is dedicated to the development of biological, mechanical and therapeutic solutions for soft tissue reinforcement following trauma, surgery and other interventional procedures. The biosurgery business has been a relatively small segment within Getinge’s overall portfolio and the only therapeutic asset in the general surgery field. The divestment is a strategic decision in order to focus on core therapeutic solutions.
The divestment of the biosurgery business is a carve-out of assets from the Atrium Medical business. The divestment includes all assets and liabilities relating to the biosurgery business, but excludes the mesh product liability claims raised against Atrium Medical in relation to products sold prior to closing and also the associated insurance claims of Atrium Medical.
SeCQure Surgical is a company that provides versatile system configurations in general surgical for both minimally invasive and traditional open procedures including energy systems, surgical staplers and surgical mesh.
Media contact:
Lars Mattsson, Head of Investor Relations
Phone: +46 (0)10-335-0043
E-mail: lars.mattsson@getinge.com
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Company Codes: Berlin:GTN, OTC-PINK:GNGBY, Bloomberg:GETIB@SS, ISIN:SE0000202624, LSE:0GZV, OTC-PINK:GNGBF, RICS:GETIB.ST, Stockholm:GETIB, Dusseldorf:GTN, Frankfurt:GTN, Munich:GTN, Stuttgart:GTN
