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Investment Opportunity MeDevices
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Company Overview
MeDevices, or the Company, was established as an aesthetic device distributor in 1982 and is headquartered in the Northern Italy.
In 1997 the Company expanded its product portfolio by introducing medical devices.
In 2001 MeDevices started manufacturing medical devices.
In the years 2002-2005 the Company introduced innovative laser technologies.
From the year 2010 the Company has started an international development.
The Company is currently an Italian medical and aesthetic devices
manufacturer.
MeDevices main served markets are: Middle East, Saudi Arabia, Turkey, Europe and South America and its products are distributed globally through a distribution and service network.
The Company is entirely owned and managed by the founding family.
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Company Overview - Products
PRODUCT APPLICATIONS DISEASE/TREATMENT
Hemangioma
Spider Neavi
Plain Angioma
Face and Nose Telangiectasias
Seborrheic Keratosis
Port Wine Stains
Dischromies
Leg Veins
Hair Removal
Scars Reduction
Wrinkles
Large Pores
Acne Scars Reduction
Tattoo Removal
Caf au Lait
Endovenous Laser Treatment (ELT)
Ear Nose Throath (ENT)
Deep Pocket Therapy
Cosmetic Dentistry
Non Invasive Body Shaping
Cellulite Reduction
Skin Tightening
Trandermal Delivery
Dermatology
Cosmetics
Surgery
Dentistry
Aesthetic Procedures
Lasers
Medical Aesthetic
Devices
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Company Overview Supply Chain
12-18 Months Time to Market
Purchasing
Assembly
Quality Procedures
Logistic
In-house operations
Local
Dealer
Sales through
MDs
Polyclinics
Private Hospitals
End Users
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Financial Highlights
(Data in '000) 2011 2012 2013B
Value of production 2.266,50 2.961,90 3.161,00% growth -18,80% 30,70% 6,70%
EBITDA -169,30 218,60 291,80% margin -7,50% 7,40% 9,20%
EBIT -214,50 153,80 202,00% margin n.m 5,20% 6,40%
Net Income of the Group -139,90 119,10 73,30% margin n.m 4,00% 2,30%
Net Debt 180,20 284,00 -9,60
Shareholders' equity 696,80 816,00 889,30
Global Revenue Breakdown Year 2012
EXTRA CEE54%
CEE16%
ITALY30%
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Investment Opportunity
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The owners are open to evaluate the sale of a minority qualified stake in order to allow the Company to catch the huge opportunities arising from positive market forecasts (mainly referred to emerging
markets and USA).
The owners are open to evaluate a JV with an industrial investor in order to generate synergies or to introduce the products in markets not coveerd yet, such as India.
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Key Investment Factors
Made in Italy appeal.
Continuous product and process innovation.
Excellent relationships with suppliers give MeDevices the same purchasing conditions as those of the major players of the market.
Fast product development and fast decisions allow the Company to be reactive and dynamic on the market.
High product customization, close to customer needs, ensures the Company customer loyalty and satisfaction.