Apex Medical Acquires Controlling Interest in UK Based WESTMERIA HEALTHCARE, A leading Player in The UK Pressure Area Care Sector
Taipei, Taiwan – 29th August 2012. APEX MEDICAL CORPORATION (APEX), (TWSElisted Company (ref code 4106)), a leading player in the Pressure Area Care and Respiratory Therapy sectors - has today announced an agreement, effective Aug 31st 2012, to acquire a controlling interest in WESTMERIA HEALTHCARE Limited (Westmeria), a leading provider of Pressure Area Care (PAC) therapy in theUnited Kingdom.
Daniel Lee, CEO of Apex Medical Corp noted in welcoming the Westmeria acquisition “That the investment in Westmeria confirms our strategic intent to expand our presence and capabilities in major international markets, while enabling us to further focus our business on developing and manufacturing high quality products for the rapidly growing Pressure Area Care sector. It is a great pleasure to welcome such a strong partner to the Apex Group”
David Francis, CEO of WESTMERIA HEALTHCARE said “Westmeria has been working with Apex Medical successfully for over ten years in buildingthe UK Pressure Area Care sector. We know their people, we trust their integrity and in those ten years have come to respect and admire their organisation. We are delighted to be part of the Apex family.”
Jon Jauregui, Director General of Apex Medical Europe, also noted “As part of our global expansion program, Apex has for a number of years extended and developed its international operations with a particular focus onthe European Medical market. As such, the acquisition of Westmeria fits well within our expanded EU Business and allows us to create a significant UK-based presence to further expand our local sales and business programs. He further commented ”This acquisition augments theon-going drive of Apex Medical to establish itself in the UK, where we have had an operating subsidiary Apex Medical Ltd since 2009, specialising in Respiratory Therapy products for the NHS market. This deal reinforces our long-term commitment to the UK and our determination to provide comprehensive and effective therapy solutions in both the PAC and Respiratory therapy areas across the Country. The combination of Apex Medical and WESTMERIA HEALTHCARE’s business creates a UK-based platform to increase the Apex brand presence and develop both companies operational and product portfolios. WESTMERIA HEALTHCARE will continue to operate undertheir current management and company name.
No financial considerations have been disclosed.
About Apex Medical
Apex Medical is a leading manufacturer of Pressure Area Care and Respiratory Therapy products, through established international subsidiaries and partners in Europe, the United States, Asia and other international markets.
Forward Looking Statements
Statements contained in this release that are not historical facts are "forward-looking" statements. These forward-looking statements, including statements regarding the Company's future revenue, earnings or expenses, newproduct development and new markets for the Company's products, are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Those risks and uncertainties are discussed in the Company's Annual Report and most recent fiscal year and in other reports the Company files with local regulators and the Taiwanese Stock Exchange (TWSE).