Mediq, international supplier of medical devices and pharmaceuticals, acquires the German company assist. assist covers Germany supplying medical devices for tube feeding, infusion therapy, ostomy, incontinence and wound care to patients at home. Mediq is already active in these areas in other countries. To date, in Germany Mediq only supplies devices to diabetes patients. This acquisition will make Mediq the second player in the German market. The € 95 million acquisition price is financed from existing credit facilities.

Strategic rationale
- Fits Mediq’s strategy to further expand direct activities;
- Substantially reinforces Mediq’s German market position in the direct supply of medical devices to patients at home;
- This acquisition is complementary to Mediq’s present portfolio;
- Larger purchasing and distribution volumes result in annual economies of scale of € 2 million - € 3 million.

Financial details of this transaction
- In 2010 assist realised € 70 million in sales;
- assist’s EBITA margin is well over the average margin of the segment Direct & Institutional;
- Mediq pays an acquisition price of € 95 million;
- The acquisition is financed from existing credit facilities;
- Mediq buys the 100% stake in assist from Sanventura AG;
- The acquisition directly contributes to its earnings per share.

Marc van Gelder, CEO Mediq: “This acquisition is another key international step for us. Mediq expands its product portfolio significantly and as a result improves its scale in the important German market. It gives us a strong platform for future growth.”

Marcel van den Broek, Executive Vice President Mediq Direct & Institutional: “assist is a successful company reporting solid results and dedicated employees with a proven track record of excellent service. With this strong presence in Germany we can serve patients at home in multiple care areas.”

Professor Edwin Kohl, majority shareholder of Sanventura: “We have known Mediq for years. The assist activities are central in Mediq’s strategy and therefore we know that the assist employees are in good hands, especially as the Merzig location remains.”

assist’s strength is delivering tube feeding, infusion therapy and ostomy, incontinence, wound and respiratory care. assist employs around 310 fte. The experienced management team stays with the company. Its head office is in Merzig, near Saarbrucken. The company has another branch in Munich. Mediq Direkt Diabetes has offices in Dresden and Neumünster, and operates 69 diabetes shops. Mediq Direkt Diabetes employs 217 fte.

The acquisition is subject to approval from the German competition authority.