GYG.L Regulatory News (GYG)

16 Mar 2005 07:01

Gyrus Group PLC16 March 2005 16 March 2005 Gyrus Group PLC Gyrus acquires Australian Surgical distribution business Gyrus Group PLC ("Gyrus" or "the Group"), a leading supplier of medical deviceswhich reduce trauma and complications in surgery, today announces that it hasacquired 100% of the equity of Urology Solutions Pty Limited (to be renamedGyrus Australia Pty Limited), the exclusive distributor of the Gyrus's surgicalproducts in Australia and New Zealand. Gyrus will pay a total of between AU$1.88 million and AU$2.78 million in cashdepending upon Urology Solutions' performance over the next two years. UrologySolutions reported sales of AU$2.7 million for the year to 30th June 2004 andhas net assets of approximately AU$0.4 million. Brian Steer, Executive Chairman of Gyrus, said "This is the latest in a series of acquisitions that give Gyrus greater controlof its international distribution and sales structure. By acquiring UrologySolutions we are better able to meet the needs of our surgeon customers in theregion." Enquiries: Gyrus Group PLC Brian Steer Executive Chairman 01189 219 750Simon Shaw Chief Financial Officer 01189 219 750 Financial Dynamics Ben Atwell 0207 831 3113Lucy Briggs 0207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange