Vitrolife Acquires IVF Limited and Starts Direct Sales of Fertility Media in UK and Ireland
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STOCKHOLM--(Business Wire)-- Regulatory News: Vitrolife (STO:VITR) is taking over management of marketing and sales of fertility media in UK and Ireland. "The acquisition is in line with Vitrolife`s strategy to operate using our own personnel and our own management in the most important markets," says Magnus Nilsson, Vitrolife`s CEO. IVF Ltd has been responsible since 2002 for sales and distribution of Vitrolife`s fertility media in UK and Ireland, while sales of instrument products, such as needles and pipettes, have been made under Vitrolife`s own management. In UK an estimated 50,000 IVF cycles are performed each year where Vitrolife`s products are relevant. The market potential for Vitrolife`s product range in UK corresponds to SEK 85-100 million. "As from November 2, 2009 Vitrolife will be able to offer our customers an almost complete range of products and service by supplying both culture media and instruments for IVF treatment direct from us. Vitrolife would like to thank IVF Ltd and its personnel for the years of successful and dedicated work that they have put into sales of and customer support for our products in UK and Ireland," says Nils Sellbom, Vitrolife`s Marketing and Sales Director. In connection with the takeover, IVF Ltd will change name to Vitrolife Ltd. Gothenburg November 2, 2009 Magnus Nilsson CEO Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. The company has business activities within three product areas: Fertility, Transplantation and Stem Cell Cultivation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. The Transplantation product area works with solutions and systems to evaluate and maintain organs outside the body order to select usable organs and keeping them in optimal condition while waiting for transplantation. The Stem Cell Cultivation product area works with media and instruments to enable the use and handling of stem cells for therapeutic purposes. Vitrolife today has approximately 160 employees and the company`s products are sold in more than 85 markets. The company is headquartered in Gothenburg, Sweden, and there are subsidiaries in USA, Australia, France, Italy, Japan and UK. Production facilities are located in Sweden and USA. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap. Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: +46 31 721 80 00. Fax: +46 31 721 80 99. E-mail: info@vitrolife.com. Website: www.vitrolife.com. Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on Monday November 2, 2009 at 08:30 am CET. This is a translation of the Swedish version of the notice. When in doubt, the Swedish wording prevails. This information was brought to you by Cision http://www.cisionwire.com Vitrolife Magnus Nilsson, CEO Phone +46 31 721 80 61 or Eva Nilsagård, CFO Phone +46 31 721 80 13 Copyright Business Wire 2009
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