STOCKHOLM--(BUSINESS WIRE)--Vitrolife (STO:VITR) has entered an agreement with the Danish company HertART Aps with regard to product development and distribution of IVF products and at the same time acquires a participation of 25 percent in the company.
HertART works with high quality and registered products within IVF (In Vitro Fertilization) / ART (Assisted Reproductive Technologies). “The collaboration will mainly concern products for in vitro fertilization but is of fundamental importance as there are points of contact primarily in the stem cell business area. We see the collaboration with HertART as an opportunity to fill our research and development portfolio more quickly within the framework of our long-term development objectives,” says Tony Winslöf, Head of Business Development at Vitrolife.
Vitrolife is acquiring 25 percent of the shares in the company, with an option to acquire up to 100 percent. The purchase sum amounts to DKK 2.0 million. For the Vitrolife Group as a whole, the acquisition will initially have a marginal effect on income and sales.
June 18, 2010
Gothenburg, Sweden
Magnus Nilsson, CEO
Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. The company has business activities within three product areas: Fertility, Transplantation and Stem Cell Cultivation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. The Transplantation product area works with solutions and systems to evaluate and maintain organs outside the body order to select usable organs and keeping them in optimal condition while waiting for transplantation. The Stem Cell Cultivation product area works with media and instruments to enable the use and handling of stem cells for therapeutic purposes. Vitrolife today has approximately 170 employees and the company’s products are sold in more than 85 markets. The company is headquartered in Gothenburg, Sweden, and there are subsidiaries in USA, Australia, France, Italy and Japan. Production facilities are located in Sweden and USA. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.
Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: +46 31 721 80 00. Fax: +46 31 721 80 99. E-mail: info@vitrolife.com. Website: www.vitrolife.com. Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on Friday June 18, 2010 at 1.00 pm CET. This is a translation of the Swedish version of the notice. When in doubt, the Swedish wording prevails.
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