AstraZeneca PLC
01 July 2005
ASTRA TECH EXPANDS THROUGH DENTAL BUSINESS ACQUISITION
Medical device company Astra Tech AB, a subsidiary of AstraZeneca PLC, is
acquiring Cresco Ti Systems from its primary owners SEB Foretagsinvest, Credit
Suisse Innoventure Capital AG, and Banque Cantonale Vaudoise. The deal
represents less than one per cent of AstraZeneca's net assets.
Cresco currently has around 30 per cent of the dental implant bridge market in
Sweden. The company also has a strong position in central Europe.
There is a great need for replacement of lost teeth, particularly among the
growing number of elderly people. More than 240 million people in North America,
Japan and Europe are missing one or more teeth.
The world market for dental implants is growing at a rate of approximately 20
per cent annually. Astra Tech is growing fastest and has annual growth of over
40 per cent in the dental implant area. This is an effect of the company's focus
on research, product development and an increased presence on the major markets
in Europe and the United States. The number of employees in the dental area at
Astra Tech has more than doubled in the past year.
Cresco's technology and products make it possible for the patients to get
bridges that fit perfectly from the start, which means that they can get their
new teeth quickly. Dentists and dental technicians save time and the work is
made simpler and more efficient thanks to individual fitting. The role played by
the dental technicians is significant and their interaction with the dentists
will be even closer.
Cresco was founded in Sweden in 1987 and has had its base in Switzerland since
1998. The company has 31 employees, of which 17 are working in the Swedish
company, while the remaining staff is located in Switzerland, Germany, Poland,
Italy, and Spain. Sales in 2004 amounted to 4.7 million Euros. Cresco sales
increased by over 70 per cent in 2004 and this strong growth is expected to
continue.
Cresco's operations will be fully integrated into Astra Tech and most of the
staff will be offered continued employment.
Gargoyle Partners acted as exclusive financial advisors to Cresco Ti Systems NV
in this transaction.
Astra Tech is a subsidiary of the pharmaceutical company AstraZeneca. The
company develops and produces dental implants and advanced medical devices. With
its products, Astra Tech aims to improve treatment results, facilitate
procedures, reduce health care costs and enhance quality of life.
The Astra Tech headquarters, located in Molndal, Sweden, house facilities for
research and development as well as production. The company has subsidiaries in
14 countries in Europe, North America and Asia/Pacific and is represented by
local partners in other selected markets.
Astra Tech had sales of US.$256 million in 2004 and employs approximately 1,400
people.
1 July 2005
For additional information, please contact:
Peter Selley, President & CEO, Astra Tech AB, phone +46 31-7763110, mobile
+46705-763110
Lars Henrikson, Vice President Marketing & Business Development, Astra Tech AB,
phone +46 31-7763425, mobile +46 703-823425
Per Dybwad, President & CEO, Cresco Ti Systems, phone +41 21 620 0230
(Lausanne), mobile +41 794-391310
This information is provided by RNS
The company news service from the London Stock Exchange
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