Medartis Holding AG increase its stake in Keri Medical SA to 47% through the purchase of an additional 18% stake for approximately CHF 18 million. Medartis is specialising in head and extremity surgery, whereas Keri Medical, a Genava-based company founded in 2016, is focussed on implants for hand and wrist surgery.
As part of its growth strategy, Medartis announced at the publication of its 2022 annual results this week that it had signed an agreement to increase its stake in Keri Medical SA to 47% through the purchase of an additional 18% stake for approximately CHF 18 million.
Medartis has acquired a first stake of 25% in Keri Medical in 2020. Back then the purchase price was CHF 10 million. The agreement included a partnership in distribution to drive the international expansion of the KeriMedical portfolio, as well as in product development. In addition, Medartis received exclusive distribution rights in selected markets, among others in the US, Germany, Austria, UK and Australia.
KeriMedical has extensive expertise in prosthetics for small joints, soft tissue fixation and nerve regeneration. The company is setting new standards in particular with its products in the area of thumb and finger joints, for example in the treatment of osteoarthritis in the hand, which affects more than 60% of all people aged over 55.
Medartis financed the current acquisition with a small capital increase of CHF 30 million in a private placement. Dirk Kirsten, CFO Medartis, comments: “Following the publication of our 2022 annual results, we received positive signals from investors and shareholders. We decided to take advantage of this opportunity to expand the free float of our share.”
(Press release / SK)
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