GOTHENBURG, Sweden, May 2, 2024 /PRNewswire/ -- Vitrolife AB (publ) today signed an agreement to acquire 100% of the shares in eFertility (STB Zorg B.V.). This acquisition is a key element of the Vitrolife Group's strategy to bring increased standardisation and digitalisation to IVF clinics around the world.
eFertility is an innovative system and software company transforming IVF clinic management with its cutting-edge solutions: eWitness (witnessing system to track and trace each step of the IVF procedure) and eBase (a specialised EMR that is compatible with hospital information systems). eFertility has a leading presence in the Netherlands and is rapidly expanding across Europe. In 2023, the company had revenues of EUR 1.5 million with a strong sales pipeline demonstrating the increased demand for witnessing systems in the IVF market.
The initial purchase price, on a net debt free basis is EUR 9.6 million which will be paid at closing. In addition, there is an earn-out component, structured over a 3-year period, based on scale up and achievement of sales growth milestones to a maximum payout of EUR 8.4 million. The expected closing is mid-May 2024 and will be financed through the Vitrolife Group's cash. eFertility will be reported under the Technologies business area.
The Vitrolife Group is executing on a new five-year corporate strategy, an important element of which is to build an end-to-end platform connecting the products and services across the entire IVF workflow. The eFertility witnessing system and EMR are core elements of that strategy and combined with the rest of the Vitrolife Group portfolio uniquely position the company to be at the forefront of innovation and automation in IVF clinics around the world.
"The acquisition of eFertility represents a significant step in the Vitrolife Group's strategy to transform and digitalise the IVF patient journey. By incorporating eFertility's technologies into our platform, we are making critical advancements towards the development of a seamlessly integrated and more efficient clinic workflow," said Bronwyn Brophy O'Connor, CEO of Vitrolife Group.
Jan-Willem Broekman, CEO of eFertility, shared, "Joining the Vitrolife Group opens an exciting chapter for eFertility. Together, we will continue to push the boundaries of innovation, delivering integrated solutions that address the evolving needs of IVF clinics worldwide."
Gothenburg, May 2, 2024
VITROLIFE AB (publ)
Bronwyn (Brophy) O'Connor, CEO
This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 02-05-2024 15:30 CET.
Contact:
Patrik Tolf, CFO, phone +46 (0) 31 766 90 21
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
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SOURCE Vitrolife AB (publ)
