Italy's Svas Biosana acquires 75% stake in Slovenia's Bormia

by   CIJ News iDesk V
2022-05-18   10:06
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Italian medical appliances distributor Svas Biosana signed an agreement to acquire a 75 percent stake in the capital of Slovenian sector player Bormia. The company did not reveal financial details about the transaction.

"We believe we have achieved, with this further step, an important position in the market for specialist medical devices in Eastern Europe. Our organisation in the Balkan area is enriched, the size and commercial strength increase, we are creating the basis for further development," Svas Biosana CEO Umberto Perillo said.

Bormia recorded a net profit of EUR 889,000 in 2021, up 9.3 percent, while revenues went up 26.4 percent to EUR 11.0 million.