IBA Completes the Sale of Cisbio Bioassays
Louvain-la-Neuve, Belgium – IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces the closing of the sale of 100% of its Business Unit Cisbio Bioassays.
Today’s closing has led to a payment to IBA of EUR 16.3 million. In addition, the contract includes an earn out of EUR 1 million based on Cisbio Bioassays’ full year 2013 consolidated results, an earn out of EUR 1.4 million if and when certain long term receivables are collected (expected in 2015) and a vendor loan of EUR 7.5 million repayable over a maximum of seven years based on an allocation of 60% of the EBIT above a certain threshold. The vendor loan will accrue interest at market conditions. Any unpaid balance after seven years is lost. Cisbio Bioassays activity, and impacts of the transactions, will have a positive effect on IBA’s 2013 net results of approximately EUR 3 million.
In order to maintain its focus on its proton therapy, accelerators and dosimetry activities, IBA has chosen not to exercise its option to keep a minority stake in the Cisbio Bioassays activity.
Olivier Legrain, Chief Executive Officer of IBA commented, “We are delighted to have completed the disposal of Cisbio Bioassays in line with our strategy to divest non-core assets in order to focus the Company on proton therapy and associated technologies. We wish the management of Cisbio Bioassays and Argos Soditic all future success and thank all Cisbio Bioassays staff for their hard work and commitment over the years with IBA.”
About IBA
IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company, and the worldwide technology leader in the field of proton therapy, the most advanced form of radiotherapy available today.
The Company’s primary expertise lies in the development of next generation proton therapy technologies that provide oncology care providers with premium quality services and equipment. IBA’s proton therapy solutions are scalable and adaptable, offering universal full scale proton therapy centers as well as next generation compact, single room solutions. IBA also focuses on the development and supply of dosimetry solutions for Quality Assurance of medical equipment and increased patient safety as well as particle accelerators for medical and industrial applications.
Headquartered in Belgium and employing about 1000 people worldwide, IBA currently has installed systems across Europe and the US and is expanding into emerging markets. The Company is focused on building sustainable global growth for investors, providing solutions in the fight against cancer.
IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at: www.iba-worldwide.com
About Cisbio Bioassays
Cisbio Bioassays develops and markets products and technologies used for in vitro diagnostics and drug discovery. With its proprietary technology, HTRF®, the company is a leader in homogeneous fluorescence detection methods, and offers first class assays and services for drug discovery researchers. In addition, Cisbio Bioassays provides a broad range of immunoassays for in vitro diagnostics, mainly tailored for cancerous pathologies, as well as metabolic and auto-immune diseases.
Based in Codolet, France, Cisbio Bioassays owns facilities in Bedford, MA, U.S.A., and Shanghai, China, and markets its global offer through a network of distributors. The group employs 200 people worldwide for a 35 M€ turnover. (www.cisbio.com)
About Argos Soditic
Argos Soditic is an independent European private equity group with offices in Paris, Milan, Brussels and Geneva. Since its creation in 1989, Argos Soditic has carried out more than 50 transactions focusing on management buy-outs and buy-ins in small and medium-sized companies. Argos Soditic typically takes majority stakes ranging from 5 to 60M€ in companies with revenues of 20 to 400M€.
With 675M€ under management, the firm has developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium-sized businesses it invests in. (www.argos-soditic.com)
For further information please contact:
IBA
Jean-Marc Bothy
Chief Financial Officer
Tel.: +32 10 47 58 90
investorrelations@iba-group.com
Thomas Ralet
Vice-President Corporate Communication
Tel.: +32 10 47 58 90
communication@iba-group.com
Cisbio BioassaysFrançois Degorce
Tel.: +33 4 66 79 19 31
fdegorce@cisbio.com
Argos SoditicCéline Lanoux
Tel.: +33 1 53 67 20 50
clanoux@argos-soditic.com
For media and investor enquiries:
Consilium Strategic Communications
Mary-Jane Elliott, Amber Bielecka, Matthew Neal
+44 (0) 207 920 2354
IBA@consilium-comms.com

