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Healthcare Enterprise Group PLC ('HCEG' or 'the Group', AIM: HCEG) the
international healthcare products group, is pleased to announce the completion of the disposal of Alpha Trading (Asia) Limited ('ATA') to its management team for a cash consideration of £50,000.
Separately, the Group's wholly owned subsidiary, Ebiox Limited, has entered into a three year distribution agreement with ATA, for exclusive rights to sell Ebiox products in Thailand, Malaysia and Vietnam. The agreement also allows for non-exclusive sales in China and the Philippines. The agreement provides for purchases of not less than £375,000 over the three year term, with annual minimum obligations.
ATA was acquired by HCEG in November 2005 in order to cement a distribution agreement for Ebiox products in South East Asia. The disposal announced today is in line with HCEG's strategy of streamlining its operations and focusing on the core business activities of Crest Medical and Ebiox. The Group will continue to pursue international distribution agreements to develop and realise returns from Ebiox.
Lyndon Gaborit, Executive Deputy Chairman said
'We are delighted to complete this deal which allows us to focus on our Crest Medical businesses in the UK and the establishment of Ebiox in the North American markets, whilst having secured a long-term distribution agreement for Ebiox in key markets of South East Asia.'
Enquiries:
Healthcare Enterprise Group
Lyndon Gaborit, Executive Deputy Chairman
+ 44 (0)1925 898 200
Numis Securities
David Poutney
+44 (0) 20 7260 1000
College Hill
Adrian Duffield
Corinna Dorward
+44 (0) 20 7457 2020
Notes to editors
Healthcare Enterprise Group PLC - is a business engaged in medical product distribution, occupational health, and first aid markets. These businesses underpin a range of innovative medical devices. HCEG is listed on the Alternative Investment Market (AIM) of the London Stock Exchange.
Ebiox - Patented decontamination and disinfectant products that are safe and alcohol free but substantially more effective than conventional methods at destroying embedded microorganisms. The Ebiox range includes hand hygiene products, surface disinfectants, products to clean and decontaminate surgical instruments, and dental cleaning products.
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