Atrium acquires Multicare B.V., a Netherlands-based company



    This latest acquisition opens new commercial opportunities
    for Atrium in the large European market

    QUEBEC CITY, Feb. 19 /CNW Telbec/ - Atrium Innovations Inc. (TSX: ATB) is
pleased to announce the acquisition of Multicare B.V. ("Multicare" or the
"Company") which has its headquarters in Almere, located near Amsterdam, in
the Netherlands.
    Multicare, through its subsidiary MCO Health B.V. ("MCO Health"),
manufactures and markets a complete range of nutritional supplements under
different brands among which Orthica is by far the most important. The Company
which has annual sales of about US$22 million (15 million euros), sells its
products primarily in the Netherlands and they are mainly marketed to
healthcare practitioners and are also distributed through drugstores.
    Atrium will acquire Multicare for a total of US$24.8 million (17 million
euros). Of this total, US$23.4 million (16 million euros) will be paid in cash
and the remainder will be paid by the issuance of 81,128 newly issued Atrium
common shares to Multicare's President and CEO. Moreover, Multicare has a bank
debt of US$6.4 million US (4 million euros).
    "We are very happy with this acquisition, which is perfectly in line with
our strategic development objectives, in addition to respecting our financial
criteria. MCO Health markets high quality products and enjoys an excellent
reputation with its customers. This Company, which has posted strong financial
results and is backed by a seasoned executive team, has a business model that
can be naturally integrated into Atrium's own model. With MCO Health, Atrium
now has a new European platform that complements last July's acquisition of
Mucos Emulsions GmbH," said Mr. Pierre Fitzgibbon, Atrium's President and
Chief Executive Officer. "We are also very pleased to be able to count on the
support of Mr. Mathew Sdnger, President and Chief Executive Officer of
Multicare, who will continue in this position following the transaction.

    About Multicare

    Multicare, through its subsidiary MCO Health, develops, markets and
distributes over 300 high-quality science based food supplement products
mainly recommended by health care practitioners. Since its establishment in
1994, Multicare and its subsidiary MCO Health have become one of the leading
players within the Dutch food supplement sector and generates over 95% of its
sales within The Netherlands. Multicare employs a highly dedicated and
exceptionally trained team of 66 employees focused on providing customers with
the utmost level of value and service. The state of the art facility situated
in the city of Almere has been recognized by the industry for pursuing the
highest level of quality production based on ISO 9001 standards and has
received top certifications such as the HACCP (Hazard Analysis Critical
Control Points) certificate as well as the BRC (British Retail Consortium)
certificate for the complete product development, purchasing and production
process.

    About Atrium

    Atrium Innovations Inc. is a recognized leading developer, manufacturer
and marketer of science-based products for the cosmetics, pharmaceutical,
chemical and nutrition industries. The Company focuses primarily on growing
segments of the health and personal care markets which are benefiting from the
trends towards healthy living and the ageing of the population. Atrium markets
a broad portfolio of active ingredients, specialty chemicals and health and
nutrition finished products through its highly specialized sales and marketing
network in more than 50 countries, primarily in North America, Europe and
Asia. Atrium has over 600 employees and operates four manufacturing
facilities. Additional information about Atrium is available on its Web site
at www.atrium-innov.com.

    Cautionary Note and Forward-Looking Statements

    This press release contains certain forward-looking statements with
respect to the Company. These forward-looking statements, by their nature,
necessarily involve risks and uncertainties that could cause actual results to
differ materially from those contemplated by these forward-looking statements.
The Company considers the assumptions on which these forward-looking
statements are based to be reasonable, but cautions the reader that these
assumptions regarding future events, many of which are beyond its control, may
ultimately prove to be incorrect since they are subject to risks and
uncertainties that affect the Company. For additional information with respect
to these and other factors, see the Company's quarterly and annual filings
with the Canadian securities commissions. The Company disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than as required
by law.




For further information:

For further information: Investor Relations: John Dempsey,
Vice-President, Finance, and Chief Financial Officer, (418) 652-1116, ext.
287, jdempsey@atrium-innov.com; Media Relations: Frédéric Tremblay, HKDP,
(514) 395-0375, ext. 234, ftremblay@hkdp.qc.ca

Organization Profile

Atrium Innovations Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890