Werfen has announced an agreement to sell its medical device and scientific instrument distribution businesses in Spain and Portugal to Palex for over €100 million. The transaction is subject to the usual approval processes of regulating bodies and is expected to be completed in the third quarter of this year.

The sale includes Izasa Medical, Izasa Scientific and MC Medical. Together, these companies represented 7% of Werfen's total sales in 2023. In recent years, the company's strategic focus has evolved significantly, influenced by different factors including market dynamics, strategic opportunities and changes in the sector landscape. This sale will allow Werfen to focus on specialised diagnostics, its main activity. For Palex, it represents an acquisition that will allow it to continue offering innovative, high-quality solutions to its clients.

“These companies are entrenched in our company's history and, over the years, they've become renowned companies in Spain and Portugal,” said Carlos Pascual, CEO of Werfen. “I'm particularly pleased to have found in Palex an owner capable of offering our employees the chance to join a company that will dedicate all its attention to growing these businesses.”

Referring to the future acquisition, Xavier Carbonell, CEO of Palex, said, “At Palex we're delighted with this acquisition since it allows us to strengthen our position as the leading pan-European medical devices and life sciences platform. I fully believe that this integration will be fluid and natural thanks to the important alignment of our philosophy and values.”

ABOUT WERFEN

Founded in 1966, Werfen is a developer, manufacturer and global distributor of specialised diagnostic instruments, related reagents, automated work cells and data management solutions for use mainly in hospitals and independent clinical laboratories. The company's business lines include coagulation, acute care diagnostics, transfusion, autoimmunity, transplant and original equipment manufacturing (OEM). Werfen operates directly in more than 30 countries and in more than 100 regions through distributors.

For more information about Werfen, visit www.werfen.com.

ABOUT PALEX

Palex, which was founded in 1955 by the Knuth family, is a company focused on marketing, sales and logistics for MedTech equipment and solutions with high added value in the Spanish, Portuguese and Italian markets. The company has an excellent reputation for innovation, quality and service, and it offers an extensive product portfolio (150,000+ references) from world-leading manufacturers (600+ partners) and its own products in numerous therapeutic areas. Palex has approximately 928 employees, an expected income of €660 million in 2024, and its head office in Sant Cugat del Vallès (Barcelona, Spain).

For more information about Palex, visit www.palexhealth.com.