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Vitrolife wants to acquire Medicult

The Swedish company Vitrolife intends to make en exchange offer to the shareholders of the Danish company Medicult to acquire all outstanding shares in the company.
This offer values Medicult at approximately NOK 362 million or NOK 12.76 per share. The purpose is to combine the companies to become a strong competitor to the market leaders within products for assisted reproduction. The new group’s coordinated research and research and development resources will increase the potential to become the leading player in clinical products for assisted reproduction, stem cell culture and organ preservation.

Vitrolife expects the transaction to be accretive to earnings per share from 2010 onwards. In line with its growth strategy, Vitrolife is determined to continue to develop its business and to be an active participant in the ongoing consolidation of the IVF market. Both Vitrolife and Medicult have today internationally established market organisations. Combining Vitrolife and Medicult will create a group with improved ability to compete with the market leaders within products for assisted reproduction. The combination will also enhance the potential of becoming the world leading company within media for cell therapy and transplantation through sophisticated research and development programs and the combined experience of the two organisations from development, registration and marketing of clinical grade media products. In addition to market synergies, Vitrolife also expects that coordinated activities within sales and marketing,

logistics, research and development as well as within certain administrative functions will present considerable cost saving potential.

Vitrolife is a global biotechnology device group that specialises in developing, manufacturing

and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. Medicult specialises in the development, manufacturing and marketing of media and advanced consumables within fertility and stem cells.

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