Quantcast

Advanced Accelerator Applications Enters UK and Irish Nuclear Medicine Markets with the Acquisition of Imaging Equipment Ltd

March 4, 2014

AAA to acquire 100% of IEL in newly issued AAA shares

SAINT-GENIS-POUILLY, France, March 4, 2014 /PRNewswire/ –

        - The acquisition gives AAA its first direct sales presence in the UK and
          Ireland, expands its specialist nuclear medicine capabilities and gives it the rights
          to IEL's licensed SPECT radiopharmaceutical diagnostic product, IELMAG3
        - IEL generated sales of almost GBP6.77 million for the year ended 31 December
          2013, up 58% on 2012
        - The UK's nuclear medicine market is one of the largest in Europe, with annual
          sales of more than EUR120 million

Advanced Accelerator Applications (“AAA” or “the Company”), a fast growing
international specialist in Molecular Nuclear Medicine (MNM), announced today that it has
entered into an agreement to acquire 100% of the shares of Imaging Equipment Ltd (“IEL”),
a privately-held UK distributor of nuclear medicine products and technologies, in newly
issued AAA shares.

As part of the transaction, IEL’s founding shareholders and top management will become
shareholders in AAA, which demonstrates the commitment to continuity and the shared common
views in terms of development and value creation.

The acquisition gives AAA its first direct presence in the UK and Ireland, expanding
its existing services and expertise in nuclear medicine and providing it with an
established sales and marketing platform. AAA will also gain the rights in the UK and
Ireland to IEL’s licensed SPECT radiopharmaceutical diagnostic product, IELMAG3, which is
used to image the kidneys and urinary tract. At the end of December 2013, IEL generated
sales of GBP6.77 million, up 58% on the previous year.

Stefano Buono, Chief Executive Officer of AAA, commented: “The acquisition of IEL is
in line with our strategy to further expand and strengthen our position in Europe. The UK
and Ireland are important markets for both our existing and future products. IEL’s
specialist expertise and strong presence in these markets is a complementary fit with
AAA’s business and we look forward to working with their management team to drive the
integration and growth in 2014.”

Founded in 2001, IEL is a specialist distributor of medical technologies in the UK and
Ireland. The company has particular expertise in molecular imaging and nuclear medicine
diagnostics for pre-clinical and clinical imaging, and radionuclide therapy. Its customers
include a number of key international nuclear medicine companies. In the UK, IEL is the
exclusive distributor of AAA’s myocardial perfusion PET imaging agent, Cardiogen(R) and
its oncology theragnostic product in development, LuDOTATATE, which has seen real interest
in the UK in named patient basis and compassionate use programs, started in April 2013.

Nicholas Stevens, Managing Director of IEL, added: “We are excited to be joining AAA,
a prominent and well respected leader in the Molecular Nuclear Medicine market. This
partnership will bring considerable benefits to IEL and will significantly strengthen our
position in Europe. This all-share agreement demonstrates our confidence in AAA’s long
term strategy and we are delighted to have the opportunity to be a part of that.”

About Advanced Accelerator Applications

Advanced Accelerator Applications (AAA) is a European pharmaceutical company founded
in 2002 to develop innovative diagnostic and therapeutic products. AAA’s main focus is in
the field of Molecular Imaging and targeted, individualized therapy for the management of
patients with serious conditions (Personalized Medicine). AAA currently has 17 production
and R&D facilities able to manufacture both diagnostics and therapeutic MNM products, and
has over 290 employees in 11 countries (France, Italy, UK, Germany, Switzerland, Spain,
Poland, Portugal, Israel, U.S. and Canada). In 2013 AAA is expecting to reach revenues of
EUR56.6 million (+27% vs. 2012) and EBITDA of EUR14 million (+49% vs. 2012). For more
information please visit: http://www.adacap.com

About Imaging Equipment Ltd

Imaging Equipment Ltd (IEL) is a UK and Irish specialist distributor of medical
technologies, formed in 2001 and purchased by the present owners in 2003. IEL’s strengths
and successes have been in Nuclear Medicine Pharmaceutical supplies and Radiotherapy
Quality Assurance equipment. IEL has 18 employees and holds two licences from the
Medicines and Healthcare products Regulatory Agency (MHRA), a Wholesalers Licence (WL
35903) and a Manufactures Specials Licence (MS 35903). IEL generated sales of almost
GBP6.77 million for the year ended 31 December 2013, up 58% on 2012. For more information
please visit:

http://www.imagingequipment.co.uk

SOURCE Advanced Accelerator Applications


Source: PR Newswire



comments powered by Disqus