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Hoofddorp, The Netherlands, 20 November 2019. IGEA Pharma N.V. (the “Company” and together with its subsidiaries “IGEA” or the “Group”) today announced the entry into a transaction agreement (the “Agreement”) to acquire the spinoff of the med-tech activities of privately held Meditalia S.r.l. concerning the distribution in Europe of polymeric based products and devices for medical use (the “Spin-off”). Subject to the satisfaction of certain closing conditions as detailed below, it is currently expected that the acquisition will close by March 2020.
Following the acquisition, IGEA will have a broad commercial-stage portfolio of health-tech and med-tech products with presence on both the US and the EU and potential cross market opportunities. Key elements of the acquisition strategy include (i) establish solid products market positions; (ii) capitalize on operational synergies and management experience to achieve profitability; and (iii) strengthen the overall financial position of IGEA.