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At today’s Annual General Meeting of Healthcare Enterprise Group PLC (Aim: HCEG, “HCEG”), the international healthcare products group, the Chairman will make the following statement to shareholders:
“Since the Group published its results on 31 May 2006, the main focus of our efforts to achieve our stated aim of maximising shareholder value across the Group and supported by our bank, has been on the Healthcare Sales and Services (HSS) operation in Warrington and the Optiscope product range.
“As expected HSS has over the last two months returned to operating profitability. The Board anticipates that this business will record a small loss for the first half of the financial year after the lower seasonal sales during the summer. We have also agreed another long term major supply agreement with Ngamdee Cotton, a Thai cotton processor, which will supply a large proportion of HSS’s cotton products.
“We have had a positive response from a number of industry leaders following an initial marketing campaign of the first Optiscope product, a 10mm laparoscope. In view of this, we have retained the services of Burnham Securities, Inc, a New York based investment bank with a well regarded healthcare practice, to assist us in optimising the commercialisation of Optiscope, subject to the approval of Optiscope shareholders. Also, our production partner, Jenoptik Polymer Systems GmbH, has confirmed that it will invest directly in the equipment and components required for mass production of the initial Optiscope product.
“Trials of the Fertiligent product in Germany are on-going and results remain positive. CE certification for the product has already been received. We have delayed the inward investment by way of sale of minority stakes in Healthcare Delivery Systems (the proposed holding company for Fertiligent) until the review of the trial results has been completed.
“The Board continues to review the strategic options for the broad portfolio of Ebiox products following the specialist marketing and brand consultancy evaluation of the relevant markets and opportunities.”
Enquiries:
Healthcare Enterprise Group PLC
Mark Tompkins, Group Chairman
Lyndon Gaborit, Executive Deputy Chairman
020 7351 7500
College Hill
Adrian Duffield
Corinna Dorward
020 7457 2020
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