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Vitrolife AB Acquires Remaining Shares in HertArt ApS


Tuesday, 2 Apr 2013 03:00am EDT 

Vitrolife AB announced that in 2010, it entered into a collaboration agreement with the Danish company HertArt ApS with the aim of developing a new range of disposable plastic products for IVF called Labware. Vitrolife acquired 25% of the shares in HertArt as part of the collaboration agreement. Vitrolife has now exercised an option to acquire all the shares in the company. HertArt has developed and registered a portfolio of products for IVF such as cultivation dishes, test tubes and pipettes. Vitrolife plans to launch the product range in 2013. The purchase sum amounted to DKK 2 million and may be increased to DKK 3 million if certain defined sales objectives are achieved. The initial purchase sum of DKK 2 million is to be paid in cash and financed from Vitrolife’s cash in hand. It is estimated that the acquisition will only entail a marginal impact on Vitrolife’s earnings per share for 2013. 

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19 Dec 2014