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Guerbet Optimizes its Industrial Network / Sale of the Montreal pharmaceutical site

Written by Customer Service on . Posted in Mergers And Acquisitions.

Guerbet Optimizes its Industrial Network
Sale of the Montreal pharmaceutical siteVillepinte (France), July 15, 2020 – 18:00 CET – Guerbet (GBT) today announced the sale of its pharmaceutical site in Montreal (Canada) to MedXL, a specialist in medical devices and sterile pre-filled syringes.The Montreal industrial facility specializes on the one hand in filling and finishing of contrast media and on the other in the large-series manufacture of syringes pre-filled with sterile solutions for third parties, which is not a core business for Guerbet. Guerbet will gradually transfer its contrast agent production, carried out previously in Montreal, to its pharmaceutical sites in France and the USA.Guerbet sells this site as part of its plans to optimize its industrial network. The operation will make Guerbet more competitive by improving capacity utilization at its other manufacturing sites.Guerbet is very happy about this transaction with MedXL, under which all 240 of its employees will keep their job. MedXL will use the Montreal site to step up its development in response to the structural growth of the sterile pre-filled syringes market.The Montreal site will continue manufacturing contrast media for Guerbet’s X-Ray range for at least two years.“Guerbet is delighted with this agreement with MedXL, a partner committed to sustainable growth that has chosen to invest in an efficient industrial site and high-quality team. Thanks to this sale we can optimize capacity utilization at our three pharmaceutical sites, which produce products for Guerbet alone. This will help us to continuously improve our competitiveness and give us the means to accelerate our growth,” said Jean-François Blanc, VP Technical Operations at Guerbet.Under this agreement, MedXL will become the owner of the site from July 16 and the Montreal management team will report to Paul Parisien, CEO of MedXL.About GuerbetGuerbet is a leader in medical imaging worldwide, offering a wide range of pharmaceutical products, medical devices, digital and AI solutions for diagnostic and interventional imaging, to improve the diagnosis and treatment of patients. A pioneer since more than 90 years in the field of contrast media with over 2,800 people globally, Guerbet is continuously innovating with 9% of revenue dedicated to Research & Development and four centers in France, Israel and the United States. Guerbet (GBT) is listed on Euronext Paris (segment B – mid caps) and generated €817 million in revenue in 2019. For more information about Guerbet, please visit www.guerbet.com.About MedXLMedXL is a Canadian company that designs and manufactures medical devices and sterile pre-filled syringes for the pharmaceutical and surgical care industries. MedXL has been established in Montreal (Canada) for 28 years, has 150 employees, and distributes its complete range of products through a network of distributors in more than 60 countries in Europe, North Africa and the Americas. For more information about MedXL, please visit www.medxl.com.Media RelationsGuerbet Global
Alize RP
Caroline Carmagnol
+33 (0)6 64 18 99 59 / guerbet@alizerp.comAttachmentGuerbet Press Release-Montreal-July 15 2020

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