Global Med Technologies(R), Inc. Completes Acquisition of Inlog, SA, a Leading European Medical Software Firm
June 26 2008 - 12:58PM
PR Newswire (US)
Particular Interest in Inlog's Cellular Therapy Product Shown by
U.S. Institutions DENVER, June 26 /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
completed acquisition of Inlog, SA, and its German and related
subsidiary ("Inlog"), a private European medical software firm, for
a maximum of $11.5 million in a combination of cash, stock and
earnout. The structure of this transaction is expected to be
accretive, exclusive of financing costs, in the first full year of
operations. Inlog's management is planning to stay with the
Company. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO) Inlog,
based in Lyon, France, with additional operations in Grenoble,
France, and 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. Inlog currently maintains 700
sites in 15 countries. 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 7.0 million* or about $12.4 million at current
exchange rates, with EBITDA of approximately euro 940,000* or
approximately $1.45 million. Inlog's unaudited revenues for the
nine months ended March 31, 2008 were approximately euro 6.6
million or about $10.2 million at current exchange rates, with
EBITDA of approximately euro 780,000 or approximately $1.2 million.
Global Med will utilize a combination of existing cash and debt to
pay for the transaction. 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. As a leading provider of blood and
laboratory software applications in 20 countries (in the U.S.,
Canada, Caribbean, European Union, Africa, French Polynesia, and
New Caledonia) we are now poised to grow our Company in the global
marketplace and react quickly to a rapidly changing international
market." Dr. Ruxin continued, "The accretive nature of the
transaction will also further strengthen Global Med's financial
position and propel the Company to develop more next-generation
medical software solutions." Dr. Ruxin further stated, "With the
combination of Global Med and Inlog, we know of no other company,
domestic or international, that brings the breadth and depth of
blood-related software applications to the world market. Our new
international suite of software products contains eleven
applications that will permit us to grow our global presence."
Interest has been generated on both sides of the Atlantic for
products from Inlog and Global Med's U.S.-based division, Wyndgate
Technologies. Particular notice has been shown by U.S. institutions
for Inlog's EdgeCell software, a Cellular Therapy application for
tissue banks, stem cell centers and cord blood centers. EdgeCell
has received the European designation, NF/ISO 25051/12119
certification, assuring 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's product line also includes EdgeBlood** (also known as CTS
Serveur, for the donor center marketplace), EdgeTrack** (for the
hospital transfusion marketplace), EdgeLab (Laboratory Information
System "LIS"), and SAPA (supports regulatory compliance and
document management). Inlog is ISO 9001:2000 certified and these
products have also received the NF/ISO 25051/12119 certification.
Inlog has a substantial blood center and transfusion market share
in France, Germany, Austria, Belgium and Switzerland and
installations in Greece and Monaco. 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, with 130
laboratory sites in France, is gaining market share in Germany,
Spain, Belgium, the Middle East and Asia. There are no current
plans to bring EdgeLab into the U.S. Thomas F. Marcinek, the
Company's President and COO, stated, "We are excited to have Inlog
join the Global Med group of companies. As Inlog has significantly
grown their market share, this acquisition doubles our customer
base. Inlog's experience in handling international implementations
and their cutting edge software solutions complement our current
offerings and expand Global Med's market presence. Furthermore,
EdgeCell, Inlog's successful cellular therapy software, will
fulfill an immediate need for our customers in the U.S. market."
Mr. Marcinek added, "We have respect and admiration for the Inlog
management and staff and their attention to customer service. The
synergistic value of bringing two strong organizations together
will result in innovative solutions and continued dynamic growth."
Renaud Blanc-Bernard of Inlog commented, "On behalf of Inlog, we
are all very pleased to join forces with Global Med. Becoming an
international group of almost 200 people, present in 20 countries
and maintaining 1,400 transfusion centers, blood banks and
laboratories, we're developing our human, commercial and technical
strengths while providing the capacity to handle large national
implementations anywhere in the world." Mr. Blanc-Bernard further
stated, "With the synergies between our two companies, we have now
more than doubled the development capabilities of Global Med and
are already seeing increased interest in our collective systems in
the international marketplace. Our inaugural joint marketing
efforts at the ISBT international conference in Macao, China were
well received. We were also quite pleased at the interest shown in
our products during a recent conference in the United States and we
recognize the strategic advantages in providing an enhanced product
line to customers." 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 at
current exchange rates 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: 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/
http://www.peoplemed.com/ http://www.wyndgate.com/
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