Burgdorf – Ypsomed (SIX: YPSN) and Mediq have signed an agreement on the sale of DiaExpert. DiaExpert is an established specialist and mail-order retailer for the care of people with diabetes in Germany, specialised in insulin pump therapy. With the sale, DiaExpert will remain as a helping hand for customers and health insurers and will continue its services. Ypsomed is focusing more strongly on the development, manufacture and sale of its own high-quality medical technology products for people with chronic conditions.
With close to 180 employees, DiaExpert is an established diabetes specialist and mail-order company in Germany. Specialising in insulin pump therapy, DiaExpert supplies its customers with all the medical devices and over-the-counter products that are important for everyday life with diabetes and has thus been related to Ypsomed and formerly Disetronic for over 30 years.
Improving the quality of life and access to medical care
Due to changing technologies and societal demands, the opportunity arises for DiaExpert to serve additional comorbidities within the diabetes segment and to offer services in new product and treatment areas not yet offered today. After careful consideration of how to best serve its needs in the future, DiaExpert will be placed in the hands of Mediq to promote a sustainable and growing offering for people with chronic conditions. Mediq was founded in 1899, has operations in 13 European countries and is headquartered in Utrecht. Mediq employs more than 2,500 people and, like Ypsomed, is committed to improving the quality of life and access to medical care.
"The acquisition of DiaExpert fits perfectly with our mission of delivering the right and the most efficient outcomes to European Healthcare by providing products, services, and solutions that are needed the most. DiaExpert’s expertise in diabetes care, it’s range of retail locations, and very engaged employees combined with Mediq’s portfolio will put us on a winning trajectory of achieving our shared goal of improving the quality of life and access to medical care", says Thomas Hinnerskov, CEO of Mediq, about the acquisition of DiaExpert.
Ypsomed on the way to becoming an integrated healthcare provider
“I am convinced that other opportunities are now open to DiaExpert with Mediq. The opportunities in the area of injection systems and for our own insulin pump mylife YpsoPump are tremendous. Digitization offers us the opportunity to develop new forms of therapy management. On our consequent path to becoming a provider of integrated healthcare services, we will from now on focus our portfolio even more strongly on the development, manufacture and distribution of our own products," Simon Michel, CEO of Ypsomed, explains this decision.
The transaction with Mediq is expected to be completed in the upcoming months and is subject to the usual regulatory approvals. For the time being, DiaExpert will continue as a helping hand for people with diabetes and all employees will continue to be employed. Its services for customers, health insurers and partners will therefore continue uninterrupted.
Additional dividend contribution
Ypsomed is expected to record a one-off profit in the low double-digit million range at EBIT level on completion of this transaction. The actual amount depends on several factors at the time of closing. Upon closing of this transaction in the current financial year 2022/23, in line with its sustainable dividend policy, a corresponding portion of the gain on disposal will be proposed as an additional dividend contribution to be distributed for the financial year 2022/23. In the event of a later closing of this transaction, the same will apply for the subsequent periods.
Subject to regulatory approvals, the Ypsomed Diabetes Care segment is affected by this transaction as follows:
|1. Half-year 2022/23||Financial year 2021/22|
|Sales of goods and services||CHF 38 million||CHF 86 million|
|Operating profit||CHF 3 million||CHF 4 million|
Until the transaction is completed, the revenue and earnings contributions of DiaExpert will continue to be recognized in the consolidated financial statements. Ypsomed will provide further information on its outlook for the financial year 2022/23 when it publishes its 2022/23 half-year figures on 16 November 2022.
Every day, millions of patients rely on Mediq's provision of medical devices and healthcare solutions, together with the dedicated professionals who care for them. As a trusted partner for patients, care professionals and health insurers, Mediq focuses on improving care outcomes and the affordability of care. Mediq was founded in 1899, holds leading market positions in 13 European countries and is based in Utrecht, the Netherlands. Further information is available at www.mediq.com.