Q-Med gives notice to 50 of the co-workers in Uppsala
As part of the company's work on focussing resources on the esthetics business, personnel reductions will be made at Q-Med's facility in Uppsala.
As has been previously announced, Q-Med has decided to focus on the esthetics business. Sales and marketing of Hospital Healthcare products will be done via partners and there will be no further in-house development of new products within this area. This change leads to redundancies at Q-Med's facility in Uppsala. Despite the fact that Q-Med assesses that some of these redundancies can be absorbed by the esthetics business, approximately 50 of the co-workers in Uppsala will need to leave the company.
Negotiations will be initiated with union representatives immediately.
Q-Med continues to have a positive view of the market for the company's products. Furthermore, Q-Med assesses that the company will return to historical profitability levels within the Esthetics product area and that the Hospital Healthcare product area will display good profitability as a result of the above measures.
Q-Med AB is a rapidly growing and profitable biotechnology/medical device company. The company develops, manufactures, markets, and sells primarily medical implants. The majority of the products are based on the company's patented technology, NASHATM, for the production of stabilized non-animal hyaluronic acid. The product portfolio today contains: Restylane® for filling lines and folds, contouring and creating volume in the face, MacrolaneTM for body contouring, DurolaneTM for the treatment of osteoarthritis of the hip and knee joints, Deflux® for the treatment of vesicoureteral reflux, VUR, (a malformation of the urinary bladder) in children, and SolestaTM for the treatment of fecal incontinence. Sales are made through the company's own subsidiaries or distributors in over 70 countries. Q Med today has just over 700 coworkers, with close to 500 at the company's head office and production facility in Uppsala, Sweden. Q-Med AB is listed in the Mid Cap segment of the OMX Nordic Exchange in Stockholm.
Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882.
Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. E-mail: [email protected]. Web: www.q-med.com.