BARCELONA, Spain, June 18, 2024 (GLOBE NEWSWIRE) -- Grifols (MCE:GRF, MCE:GRF.P, NASDAQ:GRFS), a global healthcare company and leading manufacturer of plasma-derived medicines, today announced it has completed the sale of a 20% equity stake in Shanghai RAAS (SRAAS) to Haier Group Corporation (Haier Group) and forged a strategic alliance with Haier Group. The deal has received all necessary regulatory approvals and compliance confirmation from the Shenzhen Stock Exchange.
The alliance will leverage synergies between Grifols’ industry-leading plasma and diagnostic excellence and Haier Group’s preeminent portfolio of healthcare solutions to innovate and contribute to SRAAS’ growth in the long run.
Through a share purchase agreement Grifols has sold a 20% equity stake in SRAAS to Haier Group for RMB 12.5 billion (approximately EUR 1.6 billion) cash consideration. Grifols retains a significant 6.58% economic stake in SRAAS as well as a seat on its Board of Directors.
The two companies extend their exclusive albumin distribution agreement through the next 10 years – with guaranteed minimum volumes between 2024 and 2028 – and SRAAS has the option to prolong it through 2044. China’s demand for albumin is significant and the demand is expected to grow significantly in the coming years.
Grifols and SRAAS have collaborated successfully over the last four years as the Chinese hemoderivatives market has continued its booming double-digit growth.
With this transaction, first announced in December 2023, Grifols maintains its presence in China and its commercial agreements with SRAAS while it will comply with its commitment to deleverage.
“We are delighted to close the transaction and welcome Shanghai RAAS to the Haier healthcare family today. Shanghai RAAS will join forces with Haier’s other healthcare companies, including Haier Biomedical and Inkon Life, to expand our footprint across life sciences, clinical medicine, and biotechnology and build a globally competitive health ecosystem. We also hope to contribute further to ‘Healthy China’ through our strategic partnership with Grifols,” said Lixia Tan, Vice Chairwoman and Executive Vice President of Haier Group.
“The strategic alliance that we have forged with Haier is a milestone in the more than 40-year history that Grifols has in China and further positions us for growth in this extraordinary market for plasma medicines and diagnostic solutions. We look forward to working with Haier as we leverage our respective capabilities to explore future business opportunities,” said Thomas Glanzmann, Grifols Executive Chairman.
Grifols retained Osborne Clarke, S.L.P. and JunHe LLP. as legal advisors. Nomura Securities International, Inc. serves as the lead financial advisor to Grifols.
INVESTORS:
Grifols Investors Relations & Sustainability
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MEDIA CONTACT:
Grifols Press Office
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Spain
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Raquel Lumbreras (Tel. +34 659 572 185)
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Borja Gómez (Tel. +34 650 402 225)
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Haier Press Office
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About Haier Group
Founded in 1984, Haier Group is a leading global provider of better life and digital transformation solutions, inspired by the purpose “More Creation, More Possibilities.” With users always at the center of its businesses, Haier has built 10 R&D centers, 71 research institutes, 35 industrial parks, 143 manufacturing centers and a sales network of 230,000 nodes around the world. Haier is the world's only IoT Ecosystem Brand that has been ranked in the Kantar BrandZ Top 100 Most Valuable Global Brands for six consecutive years. For more information about Haier Group, visit www.haier.com
About Grifols
Grifols is a global healthcare company founded in Barcelona in 1909 committed to improving the health and well-being of people around the world. A leader in essential plasma-derived medicines and transfusion medicine, the company develops, produces, and provides innovative healthcare services and solutions in more than 110 countries.
Patient needs and Grifols’ ever-growing knowledge of many chronic, rare and prevalent conditions, at times life-threatening, drive the company’s innovation in both plasma and other biopharmaceuticals to enhance quality of life. Grifols is focused on treating conditions across a broad range of therapeutic areas: immunology, hepatology and intensive care, pulmonology, hematology, neurology, and infectious diseases.
A pioneer in the plasma industry, Grifols continues to grow its network of donation centers, the world’s largest with over 390 across North America, Europe, Africa and the Middle East, and China.
As a recognized leader in transfusion medicine, Grifols offers a comprehensive portfolio of solutions designed to enhance safety from donation to transfusion, in addition to clinical diagnostic technologies. It provides high-quality biological supplies for life-science research, clinical trials, and for manufacturing pharmaceutical and diagnostic products. The company also supplies tools, information and services that enable hospitals, pharmacies and healthcare professionals to efficiently deliver expert medical care.
Grifols, with more than 23,000 employees in more than 30 countries and regions, is committed to a sustainable business model that sets the standard for continuous innovation, quality, safety, and ethical leadership.
The company’s class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE:GRF). Grifols non-voting class B shares are listed on the Mercado Continuo (MCE:GRF.P) and on the U.S. NASDAQ through ADRs (NASDAQ:GRFS).
For more information about Grifols, please visit www.grifols.com
LEGAL DISCLAIMER
The facts and figures contained in this report that do not refer to historical data are “future projections and assumptions”. Words and expressions such as “believe”, “hope”, “anticipate”, “predict”, “expect”, “intend”, “should”, “will seek to achieve”, “it is estimated”, “future” and similar expressions, in so far as they relate to the Grifols group, are used to identify future projections and assumptions. These expressions reflect the assumptions, hypotheses, expectations and predictions of the management team at the time of writing this report, and these are subject to a number of factors that mean that the actual results may be materially different. The future results of the Grifols group could be affected by events relating to its own activities, such as a shortage of supplies of raw materials for the manufacture of its products, the appearance of competitor products on the market, or changes to the regulatory framework of the markets in which it operates, among others. At the date of compiling this report, the Grifols group has adopted the necessary measures to mitigate the potential impact of these events. Grifols, S.A. does not accept any obligation to publicly report, revise or update future projections or assumptions to adapt them to events or circumstances subsequent to the date of writing this report, except where expressly required by the applicable legislation. This document does not constitute an offer or invitation to buy or subscribe shares in accordance with the provisions of the following Spanish legislation: Royal Legislative Decree 4/2015, of 23 October, approving recast text of Securities Market Law; Royal Decree Law 5/2005, of 11 March and/or Royal Decree 1310/2005, of 4 November, and any regulations developing this legislation. In addition, this document does not constitute an offer of purchase, sale or exchange, or a request for an offer of purchase, sale or exchange of securities, or a request for any vote or approval in any other jurisdiction. The information included in this document has not been verified nor reviewed by the external auditors of the Grifols group.
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