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Ascendis Successfully Concludes the Acquisiton of Scitec and Remedica for R7.3 Billion

By Author | August 26, 2016

On Friday, 26th August Ascendis Health announced that all conditions pertaining to the R7.3bn acquisitions of Cyprus based pharmaceutical manufacturer Remedica, and leading European based sports nutrition company Scitec have been fulfilled. Remedica was acquired for €260m, including a deferred payment of €90m after three years. Scitec was acquired for €170m, including a deferred payment of €20m after one year, with precautions against exchange rate volatility regarding the purchase consideration.

Together with the acquisition of Spanish Pharma-company Farmalider in August 2015, these deals place Ascendis in a stronger position to further enhance their range of leading health and care products, broaden distribution network and continue to develop local and international organic growth synergies.

This is extremely exciting as not only will we gain access to meaningful global platforms, brands and distribution synergies but we will also inherit a world class staff compliment of industry leading professionals with knowledge and experience, that will benefit Ascendis in the long term and ultimately create value for our employees, clients and shareholders. Karsten Wellner

Read more on the Scitech and Remedica Acquisition:


- Ascendis Health acquired Cypriot Remedica for € 335 million - EuroKerdos.com
- Remedica deal ‘vote of confidence in Cyprus’ Georgiades says - cyprus-mail.com
- Georgiades: Cyprus can attract significant investments - www.sigmalive.com
- Ascendis completes European acquisitions valued at R7.3bn - www.engineeringnews.co.za
- Ascendis Health concludes R7.3bn acquisitions - www.fin24.com
- Ascendis wraps up R7.3bn in deals - www.iol.co.za
- Ascendis Health Successfully Concludes the Acquisiton of Scitec and Remedica for R7.3 Billion - africabusinesscommunities.com
- The Ascendis Health Group "Sealed" the deal for the acquisition of Cyprus Remedica - businessnews.com.cy