Swedish medical systems provider Getinge AB relocates manufacture of cardiac surgery products from Puerto Rico to New Jersey

Nordic Business Report, June 18, 2008

NORDIC BUSINESS REPORT-18 June 2008-Swedish medical systems provider Getinge AB relocates manufacture of cardiac surgery products from Puerto Rico to New Jersey(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish medical systems provider Getinge AB (OMX Stockholm: GETI B) announced on Wednesday (18 June) that its business area Medical Systems has decided to transfer the manufacture of cardiac surgery products from Dorado, Puerto Rico, to its facility in Wayne, New Jersey, in the US.

"Since the acquisition of the cardiac and vascular surgery divisions, we have been working proactively to find a long-term production solution for cardiac surgery production, which is currently conducted in a unit owned by Boston Scientific," said Johan Malmquist, CEO of Getinge.

"The Wayne unit has available capacity and meets all the criteria that we apply to a competitive and advanced production environment," Malmquist added.

The relocation of the production is expected to cost SEK50-60m, but it expected to result in annual cost savings of SEK60-70m, beginning in 2010.

The reorganisation will affect some 170 employees in Puerto Rico.

Getinge, headquartered in Getinge, Sweden, is a medical technical company active within surgery, intensive care, infection control and care ergonomics. The group has over 10,300 employees and reported sales of SEK16.4bn in 2007.

One British pound (GBP) is worth approximately 11.85 Swedish kronor (SEK).

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