ARSEUS ACHIEVES TURNOVER GROWTH OF 9.3% STRONG ORGANIC GROWTH FOR FAGRON AND CORILUS

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Overig advies 10/01/2011 07:44
Waregem (Belgium) / Rotterdam (Netherlands)1, 10 January 2011 – The consolidated turnover increased 9.3% to € 124.5 million in the fourth quarter of 2010. Organic growth was 2.5%. In 2010, the consolidated turnover of Arseus increased 8.4% to € 424.1 million. Organic growth in 2010 was 2.7%. Arseus will publish the full annual figures for 2010 at 7.30 a.m. on 16 February
2011.
The evolution of turnover2 per division is as follows
x 1,000 euros Q4 2010 Q4 2009 Total growth Organic growth
Fagron 54,019 43,106 25.3% 8.7%
Arseus Dental 46,647 46,905 -0.5% -1.6%
Arseus Medical 15,063 15,645 -3.7% -6.1%
Corilus 8,772 8,253 6.3% 6.3%
Total 124,501 113,908 9.3% 2.5%
x 1,000 euros 2010 2009 Total growth Organic growth
Fagron 179,339 150,741 19.0% 7.8%
Arseus Dental 161,457 161,254 0.1% -0.7%
Arseus Medical 52,203 50,526 3.3% -5.3%
Corilus 31,057 28,795 7.9% 7.9%
Total 424,056 391,315 8.4% 2.7%

Ger van Jeveren, CEO of Arseus: “A strong foundation was laid in 2010 for the future growth of Arseus and its four divisions. With the acquisitions in the US and Brazil, Fagron has developed from a European player to the worldwide market leader and consolidator in the field of pharmaceutical compounding. Arseus Medical has developed from a supplier of low added value
consumables to a provider of high added value concepts at an impressive speed. The smooth introduction of Corilus’ software in new markets is a confirmation of the quality of the organization as well as the quality of its software. With a successful restructuring, a cost-saving programme and its new organizational structure, Arseus Dental has laid a foundation for future

1 This press release was sent out by Arseus NV and Arseus BV.
2 Unaudited management figures.

growth. In our view, Arseus is very well positioned to continue the positive trend in 2011. Based on the current view and the existing Arseus portfolio, we expect turnover growth of between 8% and 12% in 2011, with organic turnover growth of between 3% and 6% and a recurring EBITDA that is expected to grow faster than turnover.”

Fagron
2010 was a historic year for Fagron. Until early 2010, Fagron was only active in Europe. With the strategic takeover in May of the already fully integrated American Gallipot and the acquisition of Brazilian DEG in December, within one year Fagron has become the global market leader in pharmaceutical compounding.
Although the emphasis in the last months lay on the integration of Gallipot and the acquisition of DEG, Fagron was able to achieve an impressive organic growth of 8.7% in the fourth quarter. On an annual basis the growth in turnover was 19.0%, with organic growth of 7.8%. Fagron’s continuing strong turnover growth is due to the constant introduction of new concepts and
products for pharmaceutical compounding in order to meet the worldwide growing need for tailor-made medication.
In 2011, Fagron wants to further strengthen its position as market leader in the rapidly growing market for pharmaceutical compounding by means of robust organic growth and a focused buyand- build strategy. The emphasis in Europe is on acquisitions in the existing markets and in Scandinavia and Central and Eastern Europe. Fagron is also looking for acquisition possibilities
in North and Latin America, in order to further strengthen its market positions in these regions.
More detailed information on the acquisitions of Gallipot and DEG can be found in the press releases of 10 May 2010 and 20 December 2010 respectively, which are available on www.arseus.com.

Arseus Dental
The technology-driven activities of Arseus Dental showed good organic growth in 2010. The Swiss company Hader was able to continue the strong organic growth of the third quarter in the final quarter of the year. The recovery in the activities for dental laboratories also continued in the fourth quarter. The French Julie-Owandy successfully introduced the I-Max Touch 3D (digital 3-
dimensional dental imaging equipment) at the ADF in Paris.
The dental trade fairs in Brussels and Paris came up to expectation and resulted in good turnover in equipment at the end of the quarter. In the fourth quarter, Arseus Dental strengthened its leading position in the French market through the integration of two local dental equipment dealers.
Despite all these positive developments, turnover for equipment was somewhat lower than expected in the fourth quarter. As a result, the turnover of Arseus Dental decreased 0.5% in the fourth quarter to € 46.6 million. Organic growth was -1.6%.
Sabine Sagaert, CEO of Arseus Dental, has stated that she wishes to pursue her career outside Arseus, in a business-to-consumer environment. After careful consideration, the Arseus Board of Directors has decided to appoint Mario Huyghe, CEO of Arseus Medical and a member of the Arseus Executive Committee, as CEO of both Arseus Dental and Arseus Medical from 1 February 2011. Sabine Sagaert will stay on until 1 February 2011 in order to ensure a sound and smooth transfer.

Ger van Jeveren, CEO of Arseus: ”Sabine successfully carried out the restructuring and costsaving programme at Arseus Dental in 2010 and implemented a new organizational structure.
However, Sabine has stated that she wishes to redirect her career and discontinue her work at Arseus. The Board of Directors and the Executive Committee of Arseus NV respect her decision.
They are exceedingly grateful to Sabine for her exceptional input and commitment to Arseus Dental and wish her all the best for the future.”

Arseus Medical
During 2010, Arseus Medical focused on the strategic repositioning of the product range, in order to increase profitability. Activities with low gross margins were phased out (annual turnover of approximately € 7.5 million) and new value added exclusive distributions in health care were added to the product range. Turnover decreased 3.7% to € 15.1 million in the fourth quarter of the year, due to the impact of the discontinued activities. Organic growth was -6.1%.
New activities with a high gross margin, such as sterilization, surgery, ventilation, cardiology and medication management (AMMS), and existing activities such as bandagistery and advanced medical technology were successful in 2010.
Arseus Medical’s Surgery to Sterilization (S2S) concept was formally launched in the fourth quarter, following the installation of sterilizers (MMM Group) in the first Belgian hospitals. The Medartis implants and the instruments of Berger Surgical were introduced at the surgical level.
With the acquisition of Devroe Instruments in December 2010, Arseus Medical strengthened its position and product range for surgery and sterilization in the Benelux with referential A-brands such as Medicon, Geister, Ackermann and Hipp. The growth of Duo-Med was strengthened and reinforced by the further roll-out in the Belgian market and the introduction in the Dutch market.
More detailed information on the acquisition of Devroe Instruments can be found in the press release of 23 December 2010, which is available on www.arseus.com.
Corilus
Corilus was able to continue its strong organic growth of the first nine months of 2010 during the final quarter of the year. The organic turnover growth was 6.3% in the fourth quarter and amounted to € 8.8 million. On an annual basis, the organic growth increased no less than 7.9%, to
€ 31.1 million.
In December 2010, Corilus signed an agreement for the supply and installation of Softalmo at a hospital in Nantes (France). Corilus also achieved very strong growth in Belgium with solutions for digital image processing for dentists. The continued strong growth of Corilus confirms the success of the strategy focusing on the development, introduction and European roll-out of
customer-oriented innovative total IT solutions for medical specialists.
Composition of the Arseus Executive Committee as of 1 February 2011:
From 1 February 2011, the Arseus Executive Committee is composed as follows:
Ger van Jeveren – Chairman and CEO of Fagron
Jan Peeters – CFO
Frank Verbakel – Group Controller
Mario Huyghe – CEO of Arseus Dental and Arseus Medical
Dirk van Lerberghe – CEO of Corilus

Prospects3
The Arseus management expects the recurring EBITDA in 2010 to exceed the turnover growth reported today.
Based on the current view and the existing Arseus portfolio, Arseus’ management is expecting turnover growth of between 8% and 12% in 2011, with organic turnover growth of between 3% and 6% and a recurring EBITDA that is expected to grow faster than turnover.

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