1st Jul 2005 09:45
AstraZeneca PLC01 July 2005 ASTRA TECH EXPANDS THROUGH DENTAL BUSINESS ACQUISITION Medical device company Astra Tech AB, a subsidiary of AstraZeneca PLC, isacquiring Cresco Ti Systems from its primary owners SEB Foretagsinvest, CreditSuisse Innoventure Capital AG, and Banque Cantonale Vaudoise. The dealrepresents less than one per cent of AstraZeneca's net assets. Cresco currently has around 30 per cent of the dental implant bridge market inSweden. The company also has a strong position in central Europe. There is a great need for replacement of lost teeth, particularly among thegrowing number of elderly people. More than 240 million people in North America,Japan and Europe are missing one or more teeth. The world market for dental implants is growing at a rate of approximately 20per cent annually. Astra Tech is growing fastest and has annual growth of over40 per cent in the dental implant area. This is an effect of the company's focuson research, product development and an increased presence on the major marketsin Europe and the United States. The number of employees in the dental area atAstra Tech has more than doubled in the past year. Cresco's technology and products make it possible for the patients to getbridges that fit perfectly from the start, which means that they can get theirnew teeth quickly. Dentists and dental technicians save time and the work ismade simpler and more efficient thanks to individual fitting. The role played bythe dental technicians is significant and their interaction with the dentistswill be even closer. Cresco was founded in Sweden in 1987 and has had its base in Switzerland since1998. The company has 31 employees, of which 17 are working in the Swedishcompany, while the remaining staff is located in Switzerland, Germany, Poland,Italy, and Spain. Sales in 2004 amounted to 4.7 million Euros. Cresco salesincreased by over 70 per cent in 2004 and this strong growth is expected tocontinue. Cresco's operations will be fully integrated into Astra Tech and most of thestaff will be offered continued employment. Gargoyle Partners acted as exclusive financial advisors to Cresco Ti Systems NVin this transaction. Astra Tech is a subsidiary of the pharmaceutical company AstraZeneca. Thecompany develops and produces dental implants and advanced medical devices. Withits products, Astra Tech aims to improve treatment results, facilitateprocedures, reduce health care costs and enhance quality of life. The Astra Tech headquarters, located in Molndal, Sweden, house facilities forresearch and development as well as production. The company has subsidiaries in14 countries in Europe, North America and Asia/Pacific and is represented bylocal partners in other selected markets. Astra Tech had sales of US.$256 million in 2004 and employs approximately 1,400people. 1 July 2005 For additional information, please contact: Peter Selley, President & CEO, Astra Tech AB, phone +46 31-7763110, mobile+46705-763110 Lars Henrikson, Vice President Marketing & Business Development, Astra Tech AB,phone +46 31-7763425, mobile +46 703-823425 Per Dybwad, President & CEO, Cresco Ti Systems, phone +41 21 620 0230(Lausanne), mobile +41 794-391310 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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