MeVis Medical Solutions AG

Regulatory Filings • Jan 18, 2010

News Details

Corporate | 18 January 2010 08:30

MeVis Group paves the way for further growth: MeVis Medical Solutions expands into cardiology market via strategic investment in Medis Holding B.V.

MeVis Medical Solutions AG / Strategic Company Decision/Alliance

18.01.2010

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* Strategic expansion into growing cardiovascular imaging market
* Acquisition of approximately 14 percent of the share capital of the
leading cardiology software company
* Strategic alliance secures numerous market, product and R&D synergies
* Complete takeover option, on a step-by-step basis, between now and 2011

Bremen, January 18, 2010 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4],
a leading medical imaging software company with focus on dedicated,
disease-oriented clinical applications, today announced the acquisition of
a 14 percent stake in Medis Holding B.V., based in Leiden, the Netherlands.

Medis is a leading developer and supplier of software for the
quantification of a wide range of image data of the cardiovascular system.
The software provides cardiovascular specialists with tools that help
improve diagnosis, treatment planning and follow-up of cardiovascular
diseases based on X-ray, MR and CT data sets, as well as intravascular
ultrasound images. Medis distributes its products worldwide via major
original equipment manufacturers (OEMs), such as GE Healthcare, Toshiba,
Hitachi, Agfa, TomTec, Fujifilm Medical Systems, SECTRA and 3D advanced
visualization companies such as Vital
Images, as well as specialized regional distributors such as Goodman in
Japan, and its own dedicated sales teams based in Leiden, NL and Raleigh,
NC, USA. In particular, Medis has built up a strong brand name and
installed base in Japan since 1998.

Cardiovascular disease, in its various forms, is by far the most common
cause of death in both women and men in industrialized countries. Current
estimates by the American Heart Association indicate that approximately a
third of the adult population in the USA suffers from some form of
cardiovascular disorder. In 2006, more than seven million interventional
procedures were performed in the United States. According to Germany's
Federal Statistical Office (Statistisches Bundesamt), some 25 percent of
all deaths in Germany in 2007 were attributable to cardiovascular diseases.

Coronary (ischemic) heart disease is a chronic disorder of the coronary
vessels, leading to inadequate blood supply to the heart. It is caused by
hardening of the arteries due to various risk factors, such as cigarette
smoking, high blood pressure, impaired lipid metabolism and diabetes.
Myocardial infarction (heart attack), in which heart muscle tissue dies
off, is a particularly serious complication of coronary heart disease
because of the high mortality rate.

The Medis product families QAngio(R) XA for analysis of the coronary and
peripheral arteries from X-ray angiograms, and QMass(R) MR and QFlow for
cardiac analysis and flow through the vessels using magnetic resonance
imaging (MRI) and other products are successfully established on the market
and approved by the most important health authorities. Medis currently
employs a workforce of approximately 50 engineers, scientists and business
professionals at its wholly owned operational subsidiary Medis medical
imaging systems bv in Leiden, the Netherlands. It has been involved in a
worldwide network of cardiology and radiology experts for over twenty
years, and has a long history of close collaboration with the Leiden
University Medical Center, in Leiden, the Netherlands. This provides a
sound, extensive research base, similar to the MeVis model, in which the
MeVis Group collaborates with the Fraunhofer Institute for Medical Image
Computing MEVIS in Bremen, Germany.

The European market for cardiovascular imaging is expected to reach
approximately 1 billion euros by 2012, according to market research firm
Frost & Sullivan. 'The epidemiological impact of cardiovascular disease on
the global population makes the Medis products, knowhow and distribution
channels a strategically significant addition to our portfolio,' states Dr.
Carl J.G. Evertsz, Chairman and CEO of MeVis Medical Solutions AG. 'We are
delighted about this strategic alliance, in which we will collaborate with
the Medis team to develop and market new products for the multi-modality
diagnosis of cardiovascular disease, and cardiovascular interventions.'

As part of the strategic alliance, Medis will get access to MeVis'
proprietary product development platform MeVisAP(TM) and its rapid
prototyping platform MeVisLAB(TM). These technologies form the core of
MeVis' multi-modality software solutions. 'Our strategic partnership with
MeVis means an incredibly valuable joining of forces in research,
development and sales. Our customers will be able to benefit from the
synergy that this partnership with the MeVis Group brings, while continuing
to profit from working with familiar, high-quality products in
cardiovascular quantification software', says Prof. Dr. Hans Reiber,
co-founder and proprietor of Medis Holding BV.

'Our combined extensive research experience in the field of cardiology and
radiology will secure significant competitive advantages for future
software products aimed at the cardiovascular imaging market - utilizing
our successful technology platform,' added Thomas E. Tynes, CMO of MeVis
Medical Solutions AG.

The acquisition of additional shares in Medis Holding BV, and even a
complete takeover, is possible, on a step-by-step basis, between now and
2011. The company will decide on any expansion of the minority shareholding
on the basis of specific factors at any one time.

'Initially, the stake in Medis will be reported as a Group holding valued
at equity,' added Christian H. Seefeldt, CFO of MeVis Medical Solutions AG.
'Any further shares could be acquired by also using treasury stock, which
we have obtained through our stock buy-back program. In this way, we could
maintain our comfortable liquidity position even in the event of a complete
takeover of Medis.'

The two parties have agreed not to reveal details of the transaction.

MeVis Medical Solutions AG was founded in 1997 and is one of the world's
leading independent manufacturers and vendors of medical imaging software
with focus on dedicated, disease-oriented clinical applications. Over the
past few years, there has been an enormous increase in the complexity and
volume of medical imaging data derived from digital imaging processes such
as computed tomography (CT), magnetic resonance imaging (MRI), and
ultrasound (US). MeVis Group's products analyze and process this data in
such a way as to provide medical professionals with crucial information for
early detection, diagnosis and intervention in the areas of cancer and lung
diseases as well as neurological conditions. The Group develops its
software solutions in close consultation with the world's leading medical
experts and original equipment makers in the medical technology sector and
primarily markets this software via these partnerships.

Medis medical imaging systems bv is a leading provider of innovative
software solutions that enable clinicians, technicians and researchers to
accurately quantify medical images. Medis products are focused on the
cardiovascular imaging market and cover the modalities MRI, CT, X-ray
angiography and intravascular ultrasound. Since its foundation in 1989,
Medis has introduced a range of quantification software solutions that have
proven their value in clinical practice and research. QAngio(R) XA and
QMass(R) MR are Medis' flagship products. QAngio(R) XA incorporates the
module QCA-CMS(TM), which is widely considered the best-in-class solution
for the quantification of coronary vessels. QMass(R) MR is used by
clinicians and core labs worldwide to help assess cardiac function. Medis'
corporate headquarters are located in Leiden, the Netherlands, and the
company has a subsidiary in Raleigh, NC, USA.

18.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: MeVis Medical Solutions AG
Universitätsallee 29
28359 Bremen
Deutschland
Phone: +49 421 330 74-0
Fax: +49 421 330 74-50
E-mail: ir@mevis.de
Internet: http://www.mevis.de
ISIN: DE000A0LBFE4
WKN: A0LBFE
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart

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