GERRESHEIMER
Acquisition of Swiss micropump specialist Sensile Medical / Eastern European expansions / Plant in Switzerland to close down
Packaging manufacturer Gerresheimer (Düsseldorf / Germany; www.gerresheimer.com) is planning to acquire Sensile Medical (Olten / Switzerland; www.sensile-medical.com) for EUR 350m. The Swiss company is an OEM for drug delivery devices with digital and electronic capabilities, such as micropumps for administering liquid drugs. Gerresheimer is to make an initial payment of EUR 175m, with the remaining instalments being dependent on “the attainment of contractually specified milestones.”

Sensile Medical moved to Olten from its former location in Hägendorf / Switzerland in summer 2017. CEO Derek Brandt, with a team of 120 employees will be bringing along ongoing device development projects the company has with pharmaceutical and biotechnology customers. Its micropump systems are based on patented “SenseCore” technology. For the second half of 2018, following Sensile Medical’s consolidation, it is expected to contribute EUR 15m to sales, with a negative EBITDA. By 2020, Gerresheimer is expecting sales of EUR100m and an EBITDA of EUR10m – including further rapid growth.

The German packaging manufacturer is also planning major investments in its production facilities in 2019 and 2020. The company aims to expand its plant in Horšovský Týn / Czech Republic and to build a new production unit in eastern Europe, for which no further details are available as yet. At the same time, the loss of an order for inhalers worth EUR 12m in 2018 is making it necessary to close down its injection moulding and assembly plant in Küssnacht / Switzerland by the end of 2019.

Being no longer profitable, production there is to be relocated to other European sites. Potential sites could be the Czech Republic and its new plant in eastern Europe. Gerresheimer is expecting restructuring costs of EUR 15m for the Swiss plant, which will be partially offset by the sale of the site and buildings. At press time, the company had not yet responded to Plasteurope.com’s enquiry regarding the extent to which the 100 employees in Küssnacht will be affected.
19.07.2018 Plasteurope.com [240201-0]
Published on 19.07.2018
Gerresheimer: Übernahme von Sensile MedicalGerman version of this article...

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