Eckert & Ziegler BEBIG, Mick Radio-Nuclear Instruments, WOLF-Medizintechnik (WOmed)

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IBt - International Brachytherapy s.a. : IBt becomes n°1 In the permanent Brachytherapy market in Europe

Embargo until 5:40 p.m. (Belgian time) - February 28, 2008

IBt becomes n°1 In the permanent Brachytherapy market in Europe

Seneffe - February 28, 2008

IBt - (Reuters: IBTH.BR - Bloomberg: IBTB BB)

IBt s.a., Belgium (IBt) announces the successful completion of the transaction with Eckert & Ziegler AG, Germany (EZAG) (for which a letter of intent was signed and announced ten days ago - cfr. press release of Feb18, 2008). Notary act, due diligence, contracts and necessary approvals have all been signed or concluded.

Details of the transactions:

- IBt has acquired 100% of the capital of Bebig GmbH (together with its affiliated entities, i.e. subsidiaries in Italy and Spain and branches in France and in India) (all together "Bebig"). As reminder, Bebig is, within the EZAG group, the entity that concentrates all the activities in the business of implants used for brachytherapy cancer treatment.

- Purchase value of Bebig amounts to 23.4 Million EUR. This value was based on an EBITDA 2007 multiple of 5.5 and the estimated value of the net working capital. Numbers used were preliminary unaudited numbers. The audit of the EZAG results is expected to be completed by the end of March. If there was to be any difference with the preliminary figures used, the difference will be cash settled with no adjustment to the price.

- IBt has issued to EZAG a total of 6.750.000 new IBt shares at a price of 3.47 EUR/share. As a result of this issuance of new shares, EZAG holds 29.9 % of the voting rights in IBt.

- Results of the combined entities will be fully consolidated as from Jan1, 2008.

- In a separate and private transaction, EZAG has obtained an option to acquire the "type A" beneficiary shares, currently held by the founders of IBt through IBt TP, a US partnership. Such transfer would be subject to IBt's shareholder prior approval. If the described option was to be exercised, the ensuing acquisition of the beneficiary shares would trigger a compulsory take over bid on all the shares of IBt.

The annual results of the company will be announced after market close on March 6th.

IBt, International Brachytherapy s.a., designs, produces and sells worldwide a complete range of radiotherapy implants used in brachytherapy. Brachytherapy is a medical technology by which implants containing radio isotopes are placed in the heart of cancer tissue. The local radiation from the implants then destroys the cancerous cells. The main application for brachytherapy today is the treatment of localised prostate cancer. Contacts : +32-64- 520 811 François Blondel, CEO Laurence Goemaere, Investors Relations ManagerInternet: www.ibt.be  

 

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