Global Med Technologies(R), Inc. Signs Purchase Agreement to Acquire Inlog, SA, a European Medical Software Firm
March 31 2008 - 9:00AM
PR Newswire (US)
Accretive Inlog Acquisition to Extend Global Med's Total Reach to
1,400 Sites in 20 Countries DENVER, March 31 /PRNewswire-FirstCall/
-- Global Med Technologies(R), Inc. ("Global Med" or the "Company")
(OTC:GLOB) (BULLETIN BOARD: GLOB) , an international e-Health,
medical information technology company, today announced the signing
of a Purchase Agreement to acquire Inlog, SA, and its German and
related subsidiaries ("Inlog"), a private European medical software
firm, for a maximum of $11.5 million in a combination of cash,
stock and earnout. Inlog's shareholders must use $500,000 of the
cash proceeds to purchase Global Med common stock in the open
market within three months of the closing. Inlog's unaudited
revenues for their fiscal year ended June 30, 2007 were
approximately euro 7.3 million* or about $11.4 million at current
exchange rates, with EBITDA of approximately euro 770,000* or
approximately $1.2 million. Global Med will utilize a combination
of existing cash and debt to pay for the transaction. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO) Inlog,
based in Lyon, France, with additional operations in Grenoble,
France, Munich and Alzey, Germany, is a leading European provider
of donor center and transfusion information management systems as
well as laboratory information systems and other ancillary medical
software systems. The transaction is expected to close in the
second quarter of 2008. Inlog's management is planning to stay with
the Company. Chairman and CEO of Global Med Technologies, Inc.,
Michael I. Ruxin, M.D., stated, "The acquisition of Inlog by Global
Med is a transforming event in the history of our Company." Dr.
Ruxin continued, "At the completion of this acquisition, we will
truly be a global company, with blood and laboratory software
applications in 20 countries (in the US, Canada, Caribbean,
European Union, Africa, French Polynesia, and New Caledonia). This
includes 582 donor center sites, 458 hospital sites and 360
laboratories world-wide, for a total of 1,400 sites. From our
perspective, our high quality people, productivity and services,
coupled with our high-touch philosophy to our current and future
customers, through our Service 360(TM) commitment, will continue to
allow us to grow our Company in the global marketplace." Dr. Ruxin
added, "The structure of this transaction is expected to be
accretive, exclusive of financing costs, in the first full year of
operations. This acquisition is strategically important to Global
Med as the international marketplace provides a platform for Global
Med's continued growth." Inlog's product line consists of five
primary products: EdgeBlood** (also known as CTS Serveur, for the
donor center marketplace), EdgeTrack** (for the hospital
transfusion marketplace), EdgeLab (Laboratory Information System
"LIS"), EdgeCell (Cellular Therapy for tissue banks, stem cell
centers and cord blood centers), and SAPA (supports regulatory
compliance and document management). Inlog is ISO 9001:2000
certified and their products have received the NF/ISO 25051/12119
certification guaranteeing the highest level of quality regarding
the design, the testing and validation of the software, the
documentation quality and the quality of support and maintenance.
Inlog has been developing, implementing, and supporting its blood
bank information management solutions since 1992 with over 700
sites in 15 countries using its own products. Inlog recently
completed the national installation of its EdgeBlood product in
France. All 2.2 million French blood donations flow through Inlog's
products in France including blood collections, infectious disease
testing, component manufacturing and distribution. In addition to
France, Inlog has substantial blood center and transfusion market
share in Germany, Austria, Belgium and Switzerland, as well as
installations in Greece and Monaco. Some of Inlog's notable clients
are the French Blood Establishment (Etablissement Francais du
Sang), the Bade-Wurttemberg-Hessen Red Cross, the Bavarian Red
Cross, the Vienna Transfusion Center, the HUG ZURICH Transfusion
Center, the Belgium-Flandres Red Cross, the Pierre & Marie
Curie Institute in Paris, and CRLAC Antoine Lacassagne Cancer
Center of Nice. In Africa, Inlog supplies its blood center and
transfusion systems to the National Blood Services of Gabon,
Burkina Faso and Senegal, as well as having installations in
Algeria, the Ivory Coast and Rwanda. Inlog's EdgeLab, a laboratory
information system (LIS), has been rapidly gaining market share in
France with 130 laboratory sites. This recently developed LIS is a
best-of-breed application which is gaining market share in Germany,
Spain, Belgium, the Middle East and Asia. As few as four years ago,
Inlog had virtually no market share in the LIS marketplace in
France. Now, Inlog has garnered 15% of the marketplace, an area of
strong revenue growth. Thomas F. Marcinek, the Company's President
and COO, stated, "Inlog's capability and experience in handling
international implementations including France which processes
millions of donations per year, opens up new markets and
opportunities for Global Med. We see a need in the global
marketplace for a company with proven blood bank products,
experience with national implementations, multi-lingual
applications, and strong service offerings that are financially
sound and well capitalized. Together with Inlog, we believe that
Global Med is strategically poised and will aggressively market
these strengths to potential customers around the world which will
continue to expand our market share." Mr. Marcinek added, "Global
Med, through its Service 360(TM) Program, maintains its focus on
our valuable customer base. With the addition of the Inlog customer
base, we will continue to improve our customer support, service
offerings and products as we grow." Renaud Blanc-Bernard, the CEO
of Inlog, commented, "On behalf of Inlog, we are all very excited
about the synergies between our two companies. We truly believe
that the combined Global Med/Inlog Company will become a global
leader in donor center and transfusion medicine software. Together
we believe that we will gain economies of scale that will enable
our products to evolve in sync with the rapidly changing
international blood center, transfusion service and laboratory
marketplace. We are also excited for our customers who will gain
access to new products and services. This is truly a win-win for
Global Med, Inlog, our employees, our combined substantial
international customer base and the industry." The Purchase
Agreement also requires that certain conditions be met prior to the
closing of this transaction. (See the 8-K filed today on this
transaction.) About Global Med Technologies, Inc. Global Med
Technologies(R), Inc. is an international e-Health medical
information technology company providing information management
software products and services to the healthcare industry. Its
Wyndgate Technologies(R) division is a leading supplier of
information management systems to U.S. and international blood
centers and hospital transfusion centers. Each year, Wyndgate's
products and services manage more than eight million blood
components, representing over 27% of the U.S. blood supply.
Wyndgate's products are also being used in Canada, Africa, and the
Caribbean. Wyndgate's software provides Vein-to-Vein(R) tracking
from donor collection to patient transfusion through its Donor
Doc(TM) interactive donor health history questionnaire, ElDorado
Donor(TM) and SafeTrace(R) donor management systems, to its
SafeTrace Tx(R) advanced transfusion management system. Global
Med's PeopleMed(R), Inc. subsidiary provides custom software
validation, consulting and compliance solutions to hospitals and
blood centers. PeopleMed's in-depth knowledge of Wyndgate's
products and the blood banking industry results in cost-effective
validation services, which leads to more efficient software
implementations and upgrades for our customers. For more
information about Global Med's products and services, please call
800-WYNDGATE or visit http://www.globalmedtech.com/,
http://www.peoplemed.com/ and http://www.wyndgate.com/. This news
release may include statements that constitute forward-looking
statements, usually containing the words "believe," "estimate,"
"project," "expects" or similar expressions. These statements are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions
or changes after the date of this news release. *The information
provided herein represents unaudited non-GAAP information and may
be subject to change. In addition, certain discontinued operations
and non-recurring expenses have been eliminated. The Company
believes the preparation of this non-GAAP information may be
helpful to investors in determining what the current year's and
future year's results may or would look like for Inlog. **FDA
510(k) clearance required prior to sales in the U.S.
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO
http://photoarchive.ap.org/ DATASOURCE: Global Med Technologies,
Inc. CONTACT: Company, Michael I. Ruxin, M.D. of Global Med
Technologies, Inc., +1-303-238-2000, ; or Investors, Paul Holm,
President of portfoliopr.inc, +1-212-888-4570, , for Global Med
Technologies, Inc. Web site: http://www.globalmedtech.com/
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