Byotrol PLC Acquisition (2031Z)
March 13 2017 - 3:00AM
UK Regulatory
TIDMBYOT
RNS Number : 2031Z
Byotrol PLC
13 March 2017
13 March, 2017
Byotrol Plc
("Byotrol" or the "Company")
ACQUISITION OF WINCH PHARMA CONSUMER HEALTHCARE LTD
Byotrol plc, the specialist anti-microbial technology company,
is pleased to announce the purchase of the entire share capital of
Winch Pharma Consumer Healthcare Ltd ("Winch Pharma") for an
initial cash consideration of GBP70k. Deferred consideration of up
to GBP44k will be payable in cash in 2018, subject to contract
renewal by its key customer, the NHS Business Services Authority
("NHS Supply Chain" or "NHSSC").
Winch Pharma has one key asset, being a formal one year
(extendable to three) contract to supply the NHSSC with non-alcohol
hand sanitising products, plus certain other surface disinfection
products, all under the Athenian brand. Prior to the acquisition,
Byotrol was supplying Winch Pharma with all its hand sanitising
products, which were repackaged under the Athenian brand.
Winch Pharma's revenue is predominantly from the NHSSC, although
it also sells into other health and elderly-care providers. The
acquisition will allow Byotrol to benefit directly from Winch
Pharma's recent growth, and secure 100% of the resulting margin,
all from within existing Byotrol resources, and without having to
engage in a lengthy process to become a new, formal NHSSC
supplier.
No other assets (or liabilities) have been acquired as part of
the acquisition, except for a 7 year exclusive license over the
Athenian brand in healthcare in the UK. The Company expects to
transition Athenian to Byotrol branding, dependent on discussions
with the NHS Supply Chain authorities.
The Directors do not expect the acquisition to impact the
Company's earnings in the current financial year, to 31 March 2017.
We do however expect this transaction to materially boost hand
hygiene sales in the new financial year, particularly from sales
into the NHSSC of our (previously announced) newly-patented
formulation.
David Traynor, Chief Executive of Byotrol plc comments:
"We have had a good relationship with the owners of Winch Pharma
as suppliers to them of small quantities of hand hygiene
products.
This transaction allows us instant and direct access to the
growth in non-alcohol personal care products in the healthcare
market and beyond. It also ensures that existing customers of Winch
Pharma will see continuity of supply and a pipeline of
high-performance, innovative new products to fit within the new
biocide regulatory landscape."
Enquiries:
Byotrol plc 01925 742 000
David Traynor - Chief Executive
finnCap Ltd 020 7220 0500
(Nominated Adviser & Broker)
Geoff Nash/Carl Holmes/James Thompson - Corporate Finance
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer
of residual antimicrobial technologies,
identifying, developing, formulating and commercialising cutting-edge antimicrobial solutions.
Our patented suite of technologies deliver powerful
broad-spectrum efficacy with residual performance
optimised against commonly occurring and industry-specific pathogens
Founded in 2005, the Company has developed the technology that
creates easier, safer and cleaner lives
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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