Vimian Group acquires orthopedic implants company in the US
Vimian Group has today acquired IMEX, an orthopedic implants company in Texas, United States. IMEX has revenues of around USD 2.3 million on an annual basis.
Vimian’s MedTech segment Movora has today acquired IMEX. IMEX is a family-owned supplier of orthopedic implants for the veterinary market. The company was founded by Hall Griffin, Doctor of Veterinary Medicine, in 1990 and is based in Texas, US. Today, IMEX has 17 employees and is a market leader within the niche of external fixation.
“Through the acquisition of IMEX we enter a new niche segment within surgical products and complement our existing product portfolio in Movora. IMEX has a strong reputation in the veterinary market with its high-quality product brands and long-term stakeholder relationships. I have known Dr. Hall Griffin for 30 years and I am excited to now work together with him and his team”, says Chris Sidebotham, Co-CEO of Vimian’s MedTech segment Movora.
The acquisition will have a marginal impact on Vimian Group's earnings per share. The acquisition is financed with available funds as well as an issue in kind, resolved by the Board of Vimian based on the authorization granted by the Annual General Meeting of 2021, of a total of 110,940 shares, comprising of 55,470 ordinary shares and 55,470 class C shares, to Dr. Hall Griffin as a reinvestment in Vimian Group. The total number of shares in Vimian Group following the acquisition will amount to 389,321,230 of which 364,445,155 ordinary shares and 24,876,075 class C shares. IMEX was consolidated into Vimian Group’s MedTech segment today.