Getinge Acquires Innovative Telemedicine Growth Company.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. -- The Getinge Group's (STO STO Store (calculator function) STO Société de Transport de l'Outaouais (French) STO Strategic Technology Office (DARPA) STO Security Through Obscurity STO Service to Others :GETIB) Medical Systems business area has concluded an agreement regarding the acquisition of 60 per cent of the shares in the German company OTY OTY Over To You GmbH. The agreement also includes an option to acquire the remaining shares at a future point in time. OTY is an innovative, rapidly expanding company active in the telemedicine ("long distance" medicine) Using a videoconferencing link to a large medical center in order that rural health care facilities can perform diagnosis and treatment. A specialist can monitor the patient remotely taking cues from the general practitioner or nurse who is actually examining area and specializing in products and solutions for the IT infrastructure of hospitals, with a focus on the operation theatre. The company has developed unique hardware and software that enable the integration of various electronic data systems in the operation theatre, thus increasing the efficiency of the communication and visibility of patient data. The products constitute a natural complement to the Surgical Workplace division's existing product range. For some time, Medical Systems has been cooperating with OTY in several markets. The market for telemedicine products focusing on the operation theatre has expanded rapidly in recent years and is expected to show continued favourable growth. Telemedicine has become an increasingly important instrument in healthcare, ensuring that medical data is made simply available and serving as a basis for decisions, while simplifying documentation for future reference and teaching. OTY GmbH has annual sales of approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million, with 14 employees The company's assets amount to approximately SEK 8.7 million and its liabilities to SEK 6.4 million at the time of acquisition. The purchase price is about SEK 44 million (60 per cent), corresponding to an EV/ EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become multiple of approximately 8, based on profit for the financial year that ended on 30 June 2006. OTY GmbH will be incorporated in the Getinge Group as of September 2006. The Group estimates that the company will make a modest contribution to pre-tax profit during the current year. This information was brought to you by Waymaker http://www.waymaker.net |
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