With this goal in mind, we created STS Medical Group AD–The Bulgarian Manufacturing Hub,
our new European hub of excellence, producing disposable procedure kits for operating rooms
- The combined entity will have €3mm total turnover, and the merger will create significant savings from synergies
- No layoffs are planned and no decrease in production in Italy and Germany is expected
- The Group also aims to double production capacity within the next 5 years
- The German market remains the leading market for STS Medical Group
LUXEMBOURG [November 14, 2016] – STS Medical Group, an international group specialized in the production and distribution of medical devices and surgical customized procedural kits (CPTs), has completed the merger between Salvamed and Texsan Medical, creating a new European hub of excellence producing disposable procedure kits for operating rooms. Located in Sandanski, Bulgaria, the Hub sits in a strategic position from which STS aims to further develop our business in Europe under the new name STS Medical Group AD – The Bulgarian Manufacturing Hub.
The merger positions the Group for growth and future investment, and our objective is to double within the next 5 years the production capacity at the Hub, which total turnover today is worth €19.3 mm.
The combination will also allow STS to better focus on specialization sectors, in particular the ophthalmology sector, where STS already holds a prominent position.
Augusto Orsini, who is a Board Member, a founder and the CEO of STS Medical Group as well as an entrepreneur with 25 years of experience in the medical device sector, commented: “Market dynamics have led us to create this new advanced Hub to continue to manufacture 90% of our products in Europe. This move guarantees all of our stakeholders that our high quality standards, total supply chain transparency, innovation ability and sustainable growth policies will persist, while we continue to maintain our focus on the patient’s needs.”
Orsini further noted that: “there will not be any headcount reductions in any of the production areas of the Group due to this move: neither in Germany, Italy, nor Bulgaria. On the contrary, we expect a substantial increase in staff to meet the growing production needs of the Group.”
The Salvamed and Texsan Medical merger is a further step towards the consolidation of STS Medical Group in Europe, which started in 2012 and continued last year with the acquisition of Salvadori, Salvamed and MSS Medical Set Service.
With the new Bulgarian Hub, STS Medical Group counts almost 1,000 employees in 3 countries in Europe (Italy, Germany and Bulgaria) and 5 production sites (one in Italy, three in Germany and one in Bulgaria).
STS Medical Group presently operates through five main business lines and is defined by its values of high quality products, ease of tracking, quick delivery times, and extreme component transparency for delivered products.
MARKET OUTLOOK – In 2014, the European market for surgical customized procedural kits (CPTs) amounted to approximately € 720 million and is expected to grow up to 10% annually, due to increases in the elderly population and treatable diseases. Surgical CPTs is a sub-segment of CPTs. Northern Europe continues to dominate the European CPT market, accounting for 74% of total European revenue and € 512 million in sales in 2014. The Global market for procedural kits, which also includes non-surgical CPTs, grew to € 19.7 billion in 2015. Every year, over 250 million complex surgical operations take place worldwide. The United States is the country with the highest rate of use of procedural kits (80% of all procedures).
STS MEDICAL GROUP
Business lines – STS Medical Group operates in five main business lines: surgical customized procedural kits (CPT); small kits; CPT components such as drapes, gowns and gauze; protective clothing; and medical devices for surgical theatres in public and private hospitals, as well as for healthcare facilities, local health services, nursing homes, wholesalers, and pharmacies.
Operating Companies – STS Medical Group operates in Italy, Germany and Bulgaria, through MSS Medical Set Service, Sengewald Klinikprodukte, MSP Schmeiser, Salvadori and finally, Texsan Medical and Salvamed, which have merged to become STS Medical Group AD – The Bulgarian Manufacturing Hub, one of the largest production hubs for medical devices in Europe. The Group sells to all of the major European markets.
Shareholding – STS Medical Group was founded by Augusto Orsini, an entrepreneur with 25 years of experience in the medical device sector as well as the C.E.O. of the Group, and Monitor Clipper Partners, a private equity firm based in Boston, Massachusetts and Zurich, Switzerland. MCP, formed in 1998, is the largest shareholder in STS and focuses on partnering with founders and owners of middle-market companies with high growth potential.
Augusto Orsini, C.E.O. STS Medical Group S.àr.l. Investor Relations firstname.lastname@example.org – +(49) 172 824 7841/+(352) 203 327 32
Hahyung Hinrichs, C.F.O. STS Medical Group S.a`rl. Investor Relations email@example.com – (49) 176 17224189/+(352) 203 327 32
Marie-Hélène Emond, Board Member STS Medical Group S.àr.l – Luxembourg Office – firstname.lastname@example.org – +(352) 203 327 32
Gaëlle Violette, Board Member STS Medical Group S.àr.l – Luxembourg Office – email@example.com – +(352) 203 327 32
Enrica Borrelli – firstname.lastname@example.org – +(39) 392 9695090
Elena Rabaglio – email@example.com – +(39) 393 8858716
Massimo Tafi – firstname.lastname@example.org – +(39) 335 7171005