HCEG Healthcare Ent.

RNS Number:6898V
Healthcare Enterprise Group PLC
23 February 2004



                        HEALTHCARE ENTERPRISE GROUP PLC


                              Ebiox share purchace



Further to the announcement made on 12 January 2004 by Healthcare Enterprise
Group PLC (HCEG), the healthcare products and services company, relating to a
proposed increase in the Group's holding in Ebiox Ltd and certain related
transactions, HCEG today announces that the definitive documentation has been
signed and that the transaction is now completed.



Keith MacGregor, Ebiox's Managing Director, will prior to the exercise of the
options granted to HCEG, hold 51% of Ebiox.  He has today entered into a service
contract with Ebiox and will join HCEG's Products and Distribution Division
management team.



Stuart Bruck, Chairman, Healthcare Enterprise Group PLC, commented:



"A focus for us is the commercialisation of this world class product which
stands alone with its sterilisation properties.  Keith MacGregor brings strong
credentials to the company and we welcome his experience built in the medical
industry.



"We envisage continuing positive news from Ebiox and the other technologies
within our portfolio over the coming year and look forward to building our
presence in the market place."





The terms or the transaction are as follows:



1               the acquisition of a further 14% of the share capital of Ebiox,
taking the Group's interest to 49% for a consideration of 15 million HCEG shares

2               the grant of a call option to HCEG to acquire a further 2% for a
price of up to #100,000.  This will be satisfied in cash and/or shares at the
option of HCEG.  HCEG may give notice to exercise this option at any time up to
March 2006;

3               the grant of a further call option to HCEG to acquire the
remaining 49% at a price to be determined by reference to the financial
performance of Ebiox, subject to a minimum price of #2 million and a maximum
price of #5 million, again to be satisfied in cash and/or shares at the option
of HCEG.  HCEG may give notice to exercise this option at any time after the
exercise of the first option up to April 2006;

4               the shareholders of Ebiox (being SafaTec (UK) Limited, Keith
MacGregor and HCEG) have entered into a shareholders agreement which regulates
the way in which Ebiox is to be operated and managed; and

5               Keith MacGregor will also be entitled to payment of further
amounts based on the Group's aggregate sales of Ebiox products over a three year
period above a threshold volume, such payments not to exceed #2 million.

                                                                23 February2004






Enquiries:

Healthcare Enterprise Group PLC                         Tel: 020 7659 6158
Stuart Bruck, Executive Chairman
Gordon Wood, CEO Products & Distribution Division

College Hill                                            Tel: 020 7457 2020
Nicholas Nelson / Corinna Dorward







Note to editors



Ebiox



Ebiox produces a range of patented cleansing and decontamination products, which
are designed to penetrate and remove the bacterial biofilm that harbours
pathogens such as prions, bacteria and viruses. Ebiox cleans surgical
instruments and surfaces to molecular level - achieving a 6-log reduction in
infection levels. As well as the current range of products, which are now being
marketed in the UK and will shortly be introduced to the US market, Ebiox had a
range of exciting product innovations in development.  These will assist in the
control of MRSA and SARS.  The company also has products for the decontamination
of dental aspiration lines, hand disinfection products and retail disinfectant
wipes. Ebiox has a user-friendly alcohol free product range which is non harmful
to all surfaces.



Healthcare Enterprise Group PLC



HCEG is listed on the UK AIM stock market with its head office in London and
subsidiary offices in Manchester, Liverpool, Germany and the USA.  HCEG is a
solid, traditional cash positive, profitable businesses in the medical product
distribution, occupational health and medical consultancy markets.  These
businesses underpin a range of innovative medical devices which will be
introduced to the market via HCEG's own distribution network on a world-wide
basis.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCQKNKBFBKKPBB

Healthcare Enterprise (LSE:HCEG)
Historical Stock Chart
From Jun 2024 to Jul 2024

Healthcare Enterprise (LSE:HCEG)
Historical Stock Chart
From Jul 2023 to Jul 2024