DGAP-Adhoc: MeVis Medical Solutions AG taking over a substantial part of Siemens joint venture


MeVis Medical Solutions AG / Strategic Company Decision

21.10.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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MeVis Medical Solutions AG [ISIN: DE000A0LBFE4] has today signed a contract
with Siemens Aktiengesellschaft, under the terms of which the Hologic
business is to be extracted from the two companies’ joint venture MeVis
BreastCare GmbH & Co. KG and then acquired on a proportionate basis by
MeVis Medical Solutions AG. The transaction is taking retroactive effect as
of June 30, 2008 for the purposes of German tax and commercial law.
However, today’s date is decisive for accounting in accordance with the
International Accounting Standards as it is the date on which the contract
was signed.

MeVis BreastCare GmbH & Co. KG is consolidated by MeVis Medical
Solutions AG on a proportionate basis in accordance with its share of 51%
and has previously constituted all of the Digital Mammography segment,
which has so far been the MeVis Group’s main source of sales (first half of
2008: approx. 62%). Following its extraction from the joint venture, MeVis
BreastCare’s Hologic business will now be consolidated in full (100%) by
the MeVis Group.

The effects on the current financial year are moderate due to the late date
of consolidation. However, the Executive Board projects revenues of
approximately EUR 19 million and EBIT of approximately EUR 6.5 for the
financial year 2009, which include the effects of this acquisition.
The object of the transaction concerns the 49 percent share held by Siemens
in the assets of the MeVis BreastCare GmbH & Co. KG joint venture
attributable to the business with Hologic. Accordingly, all rights such as
intellectual property, source codes etc. as well as all employees
attributable to these business activities are being transferred. These
assets also include cash and cash equivalents of around EUR 4 million.

The purchase price for the acquisition of the Hologic business has been set
at a maximum of EUR 17.5 million and will be payable in several
installments through 2015. The amount of these installments will be
contingent on certain conditions being met. The purchase price to Siemens
comprises a cash component payable in installments through 2012 - as well
as the grant of license credits between 2010 and 2015.

Through these restructuring activities, the company is seeking to directly
enhance its profitability and simultaneously achieve a stronger focus on
the joint activities with its partners - Siemens and Hologic.
DGAP 21.10.2008 
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Language:     English
Issuer:       MeVis Medical Solutions AG
              Universitätsallee 29
              28359 Bremen
              Deutschland
Phone:        +49 421 330 74-0
Fax:          +49 421 330 74-50
E-mail:       ir@mevis.de
Internet:     http://www.mevis.de
ISIN:         DE000A0LBFE4
WKN:          A0LBFE
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart
End of News                                     DGAP News-Service
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