Atrium Innovations Acquires 70% of Mucos Pharma CZ, Distributor of Wobenzym® Products in Central and Eastern Europe

Oct 08, 2013, 07:32 ET from ATRIUM INNOVATIONS INC.

QUEBEC CITY, Oct. 8, 2013 /PRNewswire/ - Atrium Innovations Inc. (TSX: ATB) ("Atrium" or the "Company"), a globally recognized leader in the development, manufacturing, and commercialization of innovative, science-based natural health products, announced today that it has acquired 70% of the outstanding shares of Mucos Pharma CZ s.r.o. ("Mucos CZ"), the exclusive distributor of Wobenzym® products in Central and Eastern Europe.

Over the past few years, the solidly established Mucos CZ has successfully distributed Wobenzym® products primarily in Russia, Czech Republic and Slovakia. This controlling interest in Mucos CZ reflects the strategic importance of Central and Eastern European markets to Atrium in reference to Wobenzym's potential and the potential for future cross-selling opportunities particularly in Russia.

The transaction includes an obligation on or before December 31, 2015 to acquire the remaining 30% of Mucos CZ shares allowing for a proper transition. The acquisition price of this transaction is established on a multiple of 4.75 times the last twelve months EBITDA. This transaction of US$15.9 million will be financed with existing credit facilities.

"We have a longstanding relationship with Mucos CZ which has focused solely on selling Wobenzym®," said Pierre Fitzgibbon, President and CEO of Atrium. "Mucos CZ has been a distributor of Wobenzym® products over the last 20 years. Our intention is to integrate this platform to solidify our Wobenzym® business and to introduce other Atrium products particularly in Russia. The transaction will be accretive to net income immediately following the depletion of the inventory purchased by Mucos CZ prior to the transaction. Consequently, our fourth quarter 2013 gross and EBITDA margins on a consolidated basis will be temporarily negatively impacted."

About Atrium Innovations Atrium Innovations Inc. is a globally recognized leader in the development, manufacturing, and commercialization of innovative, science-based natural health products which are distributed in more than 35 countries.  The Company owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education.  Atrium has over 1,100 employees and operates seven manufacturing facilities complying with current Good Manufacturing Practices. Additional information is available at

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