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Giu 22, 2022

Delta Med and Adria Med announce a strategic partnership to strengthen their positioning in the infusion systems market

The Group will achieve the required size and capabilities to become an Italian and European leader in the medical devices space

Milan, June 22nd, 2022 – Delta Med, Italian leader in the vascular access devices market, acquires a 100% stake in Adria Med, leader in elastomeric infusion pumps. Adria Med’s shareholders will reinvest in the Group. Francesco Di Florio will hold his position as CEO of Adria Med and will be responsible for business development in international markets for the entire Group.

The two companies will expand their portfolio profiting from highly complementary products and R&D capabilities and will be able to better serve their customers. The partnership will allow to achieve significant synergies and boost the growth trajectory of the Group.

Delta Med is investing in family-owned companies with proprietary products that have proven to have strong differentiating characteristics in its specific segment, supported by entrepreneurs with proven experience and capabilities in the space.

The combination of the two companies with c.€45 million of revenue, more than 200 employees and 5 production facilities located across North and Center Italy will be better equipped to compete at an international level, leveraging a fully-fledged product portfolio and a state-of-the-art R&D department.

White Bridge Investments, main shareholder of Delta Med, will retain the majority of the Group.

Francesco Di Florio, CEO of Adria Med, claimed: “Adria Med is an Italian entrepreneurial excellence recognized globally thanks to the milestones achieved since its foundation. We believe that Delta Med Group today represents the ideal partner to support us in the next growth phase. The partnership of these two entities, with different histories but similar values, will allow us to invest in the development of our firm. Our roles and direct involvement in the Group as shareholders and managers are a proof our commitment and confidence in the growth potential of the Group that aims to become an Italian and European leader in infusion systems.”

Gabriele Giovanelli, CEO of Delta Med, added: “Adria Med is a well-recognized player in the space for the development of the elastomeric pump, which allowed the company to experience a significant growth trajectory both in Italy and internationally. The partnership between Adria Med and Delta Med will enable the new Group to become an Italian and European leader, thanks to the additional resources available and the talents already present in the Group. This is the first step in the consolidation strategy that the Group is pursuing following White Bridge Investments acquisition of Delta Med in October 2021.”

In the transaction Delta Med was assisted by White&Case as legal advisor, with the partners Leonardo Graffi and Alessandro Seganfreddo and the associates Nicolò Miglio and Stefania Maracich. Michele Aprile and Roger Demoro, representing Gatti Pavesi Bianchi Ludovici, were in charge of the fiscal and tributary aspects. Deloitte was responsible for the financial and fiscal due diligence as well as the tax matters, with a team led by Marco Bastasin on the financial aspects and by Mario De Blasi on the fiscal aspects. Adria Med was supported by the legal advisors Andrea Blasi, Alessandro Dona and Edoardo Caminale from Deloitte Legal. Roberto Famà and Claudia Senni by Deloitte Tax, together with Studio Di Majo, were in charge of the fiscal aspects.

 

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