As has been previously announced, Q-Med has decided to focus on the esthetics business. Sales and marketing of Hospital Healthcare products will be done via partners and there will be no further in-house development of new products within this area. This change leads to redundancies at Q-Med’s facility in Uppsala. Despite the fact that Q-Med assesses that some of these redundancies can be absorbed by the esthetics business, approximately 50 of the co-workers in Uppsala will need to leave the company.
Negotiations will be initiated with union representatives immediately.
Q-Med continues to have a positive view of the market for the company’s products. Furthermore, Q-Med assesses that the company will return to historical profitability levels within the Esthetics product area and that the Hospital Healthcare product area will display good profitability as a result of the above measures.
Q-Med AB is a rapidly growing and profitable biotechnology/medical device company. The company develops, manufactures, markets, and sells primarily medical implants. The majority of the products are based on the company's patented technology, NASHA™, for the production of stabilized non-animal hyaluronic acid. The product portfolio today contains: Restylane® for filling lines and folds, contouring and creating volume in the face, Macrolane™ for body contouring, Durolane™ for the treatment of osteoarthritis of the hip and knee joints, Deflux® for the treatment of vesicoureteral reflux, VUR, (a malformation of the urinary bladder) in children, and Solesta™ for the treatment of fecal incontinence. Sales are made through the company's own subsidiaries or distributors in over 70 countries. Q Med today has just over 700 coworkers, with close to 500 at the company's head office and production facility in Uppsala, Sweden. Q-Med AB is listed in the Mid Cap segment of the OMX Nordic Exchange in Stockholm.
Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882.
Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. E-mail: info@q-med.com. Web: www.q-med.com.
In USA, Q-Med AB’s affiliate is the wholly-owned subsidiary Q-Med Scandinavia, Inc.
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Contact:
Q-Med AB Bengt Agerup, President and CEO Tel: + 46 (0)70 974 90 25 or
Alexander Kotsinas, Vice President and CFO Tel: + 46 (0)73 500 11 11 or
Madelene Sandgren, Director Investor Relations and Corporate Communications Tel: + 46 (0)70 974 90 15
Source: Q-Med
