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| [February 19, 2013] |
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Sorin Group Announces the Acquisition of Alcard
MILAN --(Business Wire)--
Sorin Group (MIL:SRN) (Reuters (News - Alert) Code: SORN.MI), a global medical device
company and a leader in the treatment of cardiovascular diseases,
announced today the acquisition of Alcard Industria Mecanica Ltda
("Alcard"), a Brazilian leading manufacturer of medical devices for
cardiac surgery. The consideration is not material based on the
Company's market capitalization and other financial criteria.
Alcard holds a leading position in the Brazilian heart-lung machine
market. In addition, the company assembles and markets disposable
perfusion tubing sets. All cardiac surgery products manufactured by
Alcard are approved by ANVISA, the Brazilian national health
surveillance agency.
This acquisition is strategic for Sorin Group (News - Alert) since it represents a
gateway to the fast growing and attractive Brazilian and South American
markets. From a financial standpoint the transaction is not material
based on deal value and turnover.
"The acquisition of Alcard is an important step forward to establish
local manufacturing in BRIC countries," said Michel Darnaud, President,
Cardiac Surgery Business Unit and Intercontinental, Sorin Group.
"Alcard, whose quality and reliablity of products is recognized by its
customers, is the perfect fit for Sorin. This move is fully consistent
with Sorin's Strategic Plan to accelerate top-line growth through
geographic expansion."
"After founding and developing this company for many years, I strongly
believe that Sorin Group's global organization and unmatched
technological competencies now represent the best possible environment
for Alcard to further strengthen its leadership position," said Roberto
Engbruch, founder and CEO of Alcard.
About Sorin Group Sorin Group (www.sorin.com),
is a global medical device company and a leader in the treatment of
cardiovascular diseases. The Company develops, manufactures and markets
medical technologies for cardiac surgery and for the treatment of
cardiac rhythm disorders. With 3,750 employees worldwide, the Company
focuses on two major therapeutic areas: Cardiac Surgery (cardiopulmonary
products for open heart surgery and heart valve repair or replacement
products) and Cardiac Rhythm Management (pacemakers, defibrillators,
cardiac resynchronization devices). Every year, over one million
patients are treated with Sorin Group devices in more than 80 countries.
About Alcard Alcard Industria Mecanica Ltda (www.alcard.ind.br),
based in São Paulo (Brazil), develops, manufactures and sells heart-lung
machines and disposable perfusion tubing sets to public hospitals and
private clinics in Brazil since 1981. All Alcard's products and
equipments are approved by ANVISA, the Brazilian national health
surveillance agency.
For more information, please visit: www.sorin.com

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