Dedalus Holding S.p.A. Enters Exclusive Negotiations to Acquire Agfa HealthCare

As announced on May 14, 2019, the Board of Directors decided to investigate the sale of a part of Agfa HealthCare in the framework of the Agfa-Gevaert Group’s transformation process.

Today, the Agfa-Gevaert Group announces that it has entered into exclusive negotiations with Dedalus Holding S.p.A. to sell a part of its HealthCare IT business (the “Business”). The Business consists of the Healthcare Information Solutions and Integrated Care activities, as well as the Imaging IT activities to the extent that these activities are tightly integrated into the Healthcare Information Solutions activities. This is the case mainly in the DACH region, France and Brazil.

The proposed transaction is subject to customary employees’ consultations, regulatory approvals and closing conditions. It is expected that, upon positive conclusion of the negotiations, the transaction will be completed in the course
of Q2 2020.

As a result of this transaction, Dedalus Holding S.p.A. would acquire 100% of the Business at an enterprise value of 975 million Euro, subject to regular working capital and net debt adjustments.

Christian Reinaudo, CEO of the Agfa-Gevaert Group, said: “The expected sale of the Business, which generates around 260 million Euro of full year revenues, will represent another milestone in our transformation process. We are looking forward to this important step. We believe that under Dedalus Holding S.p.A.’s ownership, the Business will continue to develop into a leading pan-European player in the HealthCare IT market.

Going forward, Agfa HealthCare will focus on Imaging IT Solutions, continuing on its strategic track to deliver superior value to its customers, led by its flagship Enterprise Imaging platform. It is our ambition to grow revenues and raise the EBITDA margin performance over time from today’s mid-single digit percentage of revenues to a double digit level.”

About Agfa
The Agfa-Gevaert Group develops, manufactures and distributes an extensive range of analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.

Agfa’s headquarters and parent company are located in Mortsel, Belgium.

The Agfa-Gevaert Group achieved a turnover of 2,247 million euro in 2018.