Disposal
July 16 2007 - 8:04AM
UK Regulatory
RNS Number:2972A
Healthcare Enterprise Group PLC
16 July 2007
Healthcare Enterprise Group PLC
Disposal of Alpha Trading Asia (ATA) Ltd & Ebiox Distribution agreement
Healthcare Enterprise Group PLC ("HCEG" or "the Group", AIM: HCEG) the
international healthcare products group, is pleased to announce the completion
of the disposal of Alpha Trading (Asia) Limited ("ATA") to its management team
for a cash consideration of #50,000.
Separately, the Group's wholly owned subsidiary, Ebiox Limited, has entered into
a three year distribution agreement with ATA, for exclusive rights to sell Ebiox
products in Thailand, Malaysia and Vietnam. The agreement also allows for
non-exclusive sales in China and the Philippines. The agreement provides for
purchases of not less than #375,000 over the three year term, with annual
minimum obligations.
ATA was acquired by HCEG in November 2005 in order to cement a distribution
agreement for Ebiox products in South East Asia. The disposal announced today
is in line with HCEG's strategy of streamlining its operations and focusing on
the core business activities of Crest Medical and Ebiox. The Group will
continue to pursue international distribution agreements to develop and realise
returns from Ebiox.
Lyndon Gaborit, Executive Deputy Chairman said
"We are delighted to complete this deal which allows us to focus on our Crest
Medical businesses in the UK and the establishment of Ebiox in the North
American markets, whilst having secured a long-term distribution agreement for
Ebiox in key markets of South East Asia."
16 July 2007
Enquiries:
Healthcare Enterprise Group + 44 (0)1925 898 200
Lyndon Gaborit, Executive Deputy Chairman
Numis Securities
David Poutney +44 (0) 20 7260 1000
College Hill +44 (0) 20 7457 2020
Adrian Duffield / Corinna Dorward
Notes to editors
Healthcare Enterprise Group PLC - is a business engaged in medical product
distribution, occupational health, and first aid markets. These businesses
underpin a range of innovative medical devices. HCEG is listed on the
Alternative Investment Market (AIM) of the London Stock Exchange.
Ebiox - Patented decontamination and disinfectant products that are safe and
alcohol free but substantially more effective than conventional methods at
destroying embedded microorganisms. The Ebiox range includes hand hygiene
products, surface disinfectants, products to clean and decontaminate surgical
instruments, and dental cleaning products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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