The majority takeover of Gimelli Laboratories Co. Ltd. by Medisana AG was completed with the entry of a capital increase through the issue of 630,000 shares on July 30, 2010.
Accordingly, Medisana acquired 51% of the shares in Gimelli and additionally holds a purchase option for an additional 49% of the shares which may be exercised within the next four years. Medisana's registered capital now amounts to EUR 7,664,327. Gimelli International (Holdings) Limited, the seller of Gimelli, holds a share of 8.22% in the increased registered capital.
With the acquisition, Medisana is extending its value added chain by access to modern integrated manufacturing and broadens its product range to include dental care. In addition, the acquisition creates synergy effects for the cosmetic products and qualified personal hygiene areas and the growing international business. Gimelli employs a staff of 450 globally. The company has been operating in Hong Kong and China as ISO-certified manufacturer of medical products in the areas of dental care, cosmetic products and qualified personal hygiene since the beginning of the 1990's.
Heuking Kühn Lüer Wojtek provided counsel to Medisana AG on matters of German law: Dr. Thorsten Kuthe and Madeleine Zipperle (both Corporate Law and Capital Market Law).