(Finance) – Svas Biosanaa leading operator in the healthcare sector, active in the production and distribution of medical devices intended for public and private healthcare facilities, announces that the company Mark Medical, 100% owned of Svas Biosana, signed, today, the binding agreement aimed at the acquisition of 100% of the share capital of the Hermes Pharma company for a consideration of 3.5 million euros, plus a variable earn out, depending on the results achieved, equal to approximately 250 thousand Euros, to be paid in two tranches during the financial years 2025 and 2026.
The acquisition will be fully financed with own means by the Mark Medical company 100% controlled by Svas Biosana.
For the purposes of carrying out the Transaction, Mark Medical has entered into a binding agreement with the Seller pursuant to which, inter alia, the latter has undertaken to sell its shares and Mark Medical has undertaken to pay the relevant price.
The Binding agreement includes usual provisions for transactions of the same type, while the completion is conditional precedent, inter alia, on the execution by the Seller of certain commitments.
It is expected that the closing of the Transaction can be completed – subject to fulfillment or waiver by the Buyer of the conditions precedent – approximately within the first quarter of 2025.