PlasmaSelect enters new business area

06-May-2003
PlasmaSelect today has acquired all of the shares of RenaSelect GmbH & Co. KG, Pirna. RenaSelect has developped, patented and owns proprietary know how for production of cellulose based dialysis fibers. RenaSelect produces dialysis fibers and dialysers and sells them in selected European markets. Under the umbrella of the PlasmaSelect AG RenaSelect will be placed as independent second business area - besides the already operating DeltaSelect -. The financial and personal resources of the holding will foster future growth of the newly acquired entity. With the take over of RenaSelect, PlasmasSelect - the health care company - is enabled to enter the strongly growing international dialysis market. The patented production know how paralleled by highly competitive production costs will in addition strengthen the growth of RenaSelect. RenaSelect will concentrate its marketing and selling activities on nische markets and upon cooperations with free dealers and partners, thus being positioned to also compete against the big companies in this market. As already now several distribution agreements have been signed securing the sale of a significant part of the capacity, PlasmaSelect believes that RenaSelect will contribute a positive EBITDA in the year 2004. The purchase price has mainly been paid by new shares (about 2.1 Mio) of PlasmaSelect AG, derived from approved new capital.

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