Amsterdam, the Netherlands - 16 May 2018
Esperite NV, The Regenerative and predictive medicine company has acquired control of its long-term South African joint venture CryoSave South Africa Ltd.
Effective 1 April 2018, Esperite NV consolidates the revenues of the South African entities, as Esperite is now in full control of its business activities in South Africa and Namibia. Esperite anticipates a profitable contribution to its results.
CryoSave South Africa, of which Esperite owned 50%, has been a Joint Venture between Esperite and Ecsponent Ltd, listed on the JSE. CryoSave South Africa, specialized in the collection, processing and storage of Stem Cells from umbilical cord blood was under the management of Ecsponent who has been and remain the local reference financial partner.
The two partners have agreed to give total control of the operations to Esperite which is now in charge of the executive management of the company.
Through change of control, Esperite's position in Africa will be further strengthened and maximized, making sure that the Regenerative Predictive Medicine company will target the large potential that the market in Africa offers. Esperite NV will be in sole charge of driving its growth strategy to capture all opportunities on the African market as part of Esperite's expansion strategy.
CS SA operates a state of the art biotechnology laboratory in Pretoria fully certified and able to grow and address new markets.
Esperite intend to immediately use the South African entity as a Hub to distribute and later operate its advanced CE-IVD genetic tests.
Frederic Amar, CEO Esperite NV: "With obtaining of full control over managing all aspects of CryoSave brand in South Africa, we will ensure, along with Ecsponent that we better capitalize on future opportunities and accelerate brand development in South Africa and in the African Continent. Our partnership is the perfect combination of a creative and dynamic financial actor with a strong and highly skilled biotechnology developer."
CryoSave South Africa, established five years ago in April 2013, has reached the leading position in South Africa. The company has the intention to extend its footprint in the region and has the ambition to access growth potential in related market. CryoSave intends to conduct a conservative but ambitious strategy and will expand its business by introducing creative business models and actively develop partnership with new partners.
ECSPONENT Limited is listed on the JSE's main board under the Financial Services - Specialty Finance sector. It is a rapidly growing African financial services group with multiple subsidiaries and a footprint across South Africa, Botswana, Swaziland and Zambia.
The group predominantly creates wealth by investing in companies that offer a range of niche financial services.
About the Company:
ESPERITE Group (Euronext: ESP), listed at Euronext Amsterdam and Paris, is a leading international company in regenerative and predictive medicine established in 2000.
To learn more about ESPERITE Group, or to book an interview with CEO Frederic Amar: +31 575 548 998 - firstname.lastname@example.org or visit the website at www.esperite.com.
This press release contains inside information as referred to in article 7 paragraph 1 of Regulation (EU) 596/2014 (Market Abuse Regulation).