Siegfried acquires Alliance Medical Products
Effective May 31, 2012, Siegfried Holding AG (SIX: SFZN) acquires Alliance Medical Products, Inc. (AMP), Irvine, California. This acquisition gives Siegfried an entry into the custom market for sterile filling services.
The addition of sterile filling capabilities has been a strategic goal of the Siegfried Group and will advance its technology base. The acquisition of privately-held Alliance Medical Products (AMP) by the Swiss pharmaceutical supplier represents an important step toward additional profitable growth. The purchase price consists of a cash payment in the amount of USD 58 million and contingent earn-out consideration subject to AMP meeting defined profitability goals for the fiscal year ended December 31, 2013. The transaction is expected to be accretive already in 2012.
Attractive company with solid track record
Founded in 2001, AMP is based in Irvine, California and provides sterile filling services for medications – an attractive segment of the pharmaceutical custom market. The company achieved revenues of USD 20 million in 2011 with approximately 100 employees.
AMP is operating profitably, has an attractive client base and a substantial project pipeline. The company is expected to continue its growth and provide a strong contribution to the equity value of the Siegfried Group. In order to ensure a seamless integration the management of AMP will remain in place.
The acquisition provides various synergies for both companies, especially in the areas of technology and marketing. Dr. Rudolf Hanko, Siegfried CEO, explains: "Siegfried is one of the few companies with capabilities in both pharmaceutical and chemical manufacturing. Our acquisition of AMP expands our exceptional CMO platform into the sterile filling market, a particularly attractive segment. Integrating AMP into the Siegfried Group is an asset for both companies."
Juan Valdes, AMP CEO, adds: "Our association with Siegfried opens exciting growth and expansion possibilities for AMP. The combination of sterile filling services with the production of active pharmaceutical ingredients is unique in the custom manufacturing market."
For further information:
Peter Gehler, Head Corporate Center
Phone +41 (0)62 746 11 48
Mobile +41 (079) 416 41 16
Fax +41 (0)62 746 11 03
Siegfried Holding AG
Untere Brühlstrasse 4
Phone +41 (0)62 746 11 11
Fax +41 (0)62 746 11 03
The Siegfried Group is active worldwide in the field of Life Sciences with production facilities located in Switzerland, Malta and the USA. At the end of 2011, Siegfried employed approximately 700 employees and reported annual sales of CHF 328 million. Siegfried Holding AG is listed on the Swiss Exchange (SIX: SFZN).
Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the research-based pharmaceutical industry as well as the corresponding intermediate steps and controlled substances, and provides development and production services for drugs in finished dosage forms.
About Alliance Medical Products
Alliance Medical Products is a full service FDA, MHRA and ISO13485 certified Contract Manufacturing Organization (CMO), who provides pharmaceutical companies with a complete single source solution from early stage through high volume commercial manufacturing.
With over 100 employees in its Irvine California location, Alliance Medical Products offers custom fill finish services in sterile liquid, suspension, emulsion, ointments and specialty combo delivery devices, with a focus on unique and difficult to manufacture products.
Cautionary Statements Regarding Forward-looking Statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by Siegfried Group management and other information currently available to the Siegfried Group. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Siegfried Holding AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.