Regulatory News:
Q-Med AB (STO:QMED):
A public offer was presented on 3 November 2008 by Ivytan AB (“Ivytan”),
indirectly owned by EQT V (“EQT”)
and Lyftet Holding B.V. (“Lyftet”),
one of Bengt Ågerup’s
(“Ågerup”)
controlled companies, for the acquisition of all shares in Q-Med AB
(publ) (“Q-Med”)
for 39 SEK cash per share.
Following the announcement, the Board of Q-Med has decided today in an
extraordinary meeting to establish an independent Board Committee
consisting of the following Board members: Pia Rudengren, Chairman of
the Board, Håkan Edström,
Bertil Hult, Anders Milton, Åsa Rödén
and Pernilla Ström. The Independent Board
Committee shall evaluate all aspects of Ivytan’s
offer and make such decisions that the situation may require.
The Independent Board Committee has retained Morgan Stanley as financial
advisor and Södermark Law Firm as legal
advisor. ”Q-Med is a profitable company with
strong brand names and successful products. The company has financed its
growth out of stable operating cash flow. In addition, the company has a
strong financial position with net cash and virtually no external debt,
which is a strength not least in today’s
turbulent financial markets. The Board believes that Q-Med has excellent
potential”, says Pia Rudengren, Chairman of
the Board of Q-Med.
“We and our advisors will now evaluate the
offer and explore all possibilities to maximize the value for all the
shareholders of Q-Med” says Pia Rudengren.
Q-Med AB is a rapidly growing and profitable biotechnology/medical
device company. The company develops, manufactures, markets, and sells
primarily medical implants. The majority of the products are based on
the company's patented technology, NASHA™,
for the production of stabilized non-animal hyaluronic acid. The product
portfolio today contains: Restylane® for
filling lines and folds, contouring and creating volume in the face,
Macrolane™ for body contouring, Durolane™
for the treatment of osteoarthritis of the hip and knee joints, Deflux®
for the treatment of vesicoureteral reflux, VUR, (a malformation of the
urinary bladder) in children, and Solesta™
for the treatment of fecal incontinence. Sales are made through the
company's own subsidiaries or distributors in over 70 countries. Q Med
today has just over 700 coworkers, with close to 500 at the company's
head office and production facility in Uppsala, Sweden. Q-Med AB is
listed in the Mid Cap segment of the OMX Nordic Exchange in Stockholm.
Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate
identity number 556258-6882. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474
90 01. E-mail: info@q-med.com. Web: www.q-med.com.
In USA, Q-Med AB’s affiliate is the
wholly-owned subsidiary Q-Med Scandinavia, Inc.
This information was brought to you by Cision http://www.cisionwire.com
Q-Med AB
Pia Rudengren, Chairman of the Board
Mobile: +46
(0)706 242041
