VITA 34 AG: VITA 34 extends foreign business in Southeast Europe through cooperation

VITA 34 AG / Key word(s): Alliance

12.06.2012 / 07:45

VITA 34 AG: VITA 34 extends foreign business in Southeast Europe through cooperation

Leipzig, June 12, 2012 – VITA 34 AG (ISIN DE000A0BL849), the oldest private umbilical cord blood bank in the German-speaking countries, has successfully continued its foreign expansion by concluding a cooperation contract in Serbia. The agreement provides for the partner Bio Save doo from Belgrade to assume the entire marketing and sales activities in Serbia. The umbilical cord blood preparations will be stored at VITA 34 in Leipzig. The relevant import license for the umbilical cord blood collected in Serbia was requested from the competent authority, the Saxon State Directorate (Landesdirektion Sachsen). The Saxon State Directorate has already successfully inspected the Serbian clinics. VITA 34 expects a positive contribution to the operating income from the operations in Serbia in the medium term.

In Serbia, the umbilical cord blood of about 3 to 4 percent of the 70,000 annual births is collected and stored, a considerably higher storage rate than in Germany. Foreign operations are an important pillar of VITA 34. Beyond the domestic market in Germany, the company is represented by subsidiaries in Spain and Austria as well as by cooperation partners in Italy, Slovenia, and Switzerland.

Dr. Eberhard F. Lampeter, CEO of VITA 34 AG comments: "We are glad to continue expanding abroad. Serbia is a rather young market with a manageable competitive environment and great potential. According to our inquiries, umbilical cord blood was initially stored in a bank there in 2007. With Bio Save doo, we have an experienced distribution partner by our side in Serbia."


Press/ Investor Relations:

Axel Mühlhaus
Peggy Kropmanns
edicto GmbH
Eschersheimer Landstr. 42-44
D-60322 Frankfurt

Phone: +49 (069) 90550550
Fax: +49 (069) 90550577

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