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DGAP-News News vom 20.10.2015

curasan and Riemser Pharma agree on long-term financing covenant

DGAP-News: curasan AG / Key word(s): Agreement

2015-10-20 / 11:25


- Remaining tranche from reacquisition of dental business stretched until 2019

- Quarterly payments adjusted to future revenue growth

- Interest rate of 2.9 percent provides sufficient financial leeway


curasan AG (ISIN DE0005494538), a leading specialist for medical products in the field of bone and tissue regeneration, and Riemser Pharma GmbH have agreed on a long-term financing covenant regarding the final payment of 2.4 million Euros from the reacquisition of the dental regeneration business from Riemser.

Accordingly curasan will retroactively repay the debt outstanding from end of September 2015 onwards on a quarterly basis. The amount of the agreed payments have deliberately been linked to the expected revenue growth of curasan. It will increase from initial 125.000 Euros, through 150.000 Euros as of 2017, to 200.000 Euros as of 2018.

"The financial future of curasan is now clarified long-term in regard to our debt outstanding as well", Michael Schlenk, CEO of curasan, explains. "These manageable payments in combination with the stipulated interest rate of 2.9 percent will give us enough scope, to flexibly manage our future growth." After two capital increases and a settlement payment of 4.5 million Euros curasan now maintains sufficient liquidity to align the company towards operating break-even on a monthly basis by the end of 2016. After the now concluded agreement the company is furthermore planned to be free of remaining debt as of mid 2019.

About curasan AG:
curasan AG develops, manufactures and markets biomaterials and other medical products in the field of bone and tissue regeneration. A pioneer in its industry, curasan is specialized primarily on synthetic bone grafting materials for dental and orthopaedic applications. Numerous patents and a comprehensive list of scientific documentation prove the clinical success of the products and the highly innovative strength of curasan. Surgically active dentists, implantologists and oral, maxillary and dentofacial surgeons, as well as orthopaedics, traumatologists and spinal column surgeons worldwide benefit from the broad range of the premium quality and user-oriented portfolio offered by the technology leader. curasan maintains its own high-tech facilities for research, development and manufacturing in Frankfurt/Main, Germany, which are approved by the Food and Drug Administration (FDA) and other international authorities. In addition to its headquarters, the company has a subsidiary, curasan Inc., in the Research Triangle Park, near Raleigh, N.C., USA.The shares of curasan AG are listed in the General Standard at the Frankfurt Stock Exchange. www.curasan.com




Contact:
Ingo Middelmenne
Head of Investor Relations
Tel. +49 6027 40900-45
Fax +49 6027 40900-39
ingo.middelmenne@curasan.de


Andrea Weidner
Head of Corporate Communications
Tel. +49 6027 40900-51
Fax +49 6027 40900-39
andrea.weidner@curasan.de
www.curasan.de
 




2015-10-20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de



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