Eckert & Ziegler Posts Losses in Q3 2022, Plans to Raise Funds via IPO
Company’s core business verticals incur losses amid macroeconomic challenges
Eckert & Ziegler, a Berlin-based medical technology company, reported losses in its core business segments during the third quarter (Q3) of 2022. The company’s operating loss for the period was €16.8 million (around $17.6 million), compared to a profit of €3.7 million (approximately $3.9 million) in the same period last year.
The company attributed the losses to several factors, including supply chain disruptions, rising raw material costs, and unfavorable currency exchange rates. Eckert & Ziegler’s Radiopharmaceuticals and Medical Devices verticals were particularly affected, with both segments reporting significant declines in revenue and profit.
Eckert & Ziegler announces plans for initial public offering
In response to the challenging market conditions, Eckert & Ziegler announced plans to raise funds via an initial public offering (IPO) on the Frankfurt Stock Exchange. The company intends to use the proceeds from the IPO to strengthen its financial position, invest in research and development, and expand its global operations.
Eckert & Ziegler’s IPO is expected to take place in the first half of 2023, subject to market conditions and regulatory approvals. The company is aiming for a valuation of around €500 million (approximately $527 million).
IPO to support long-term growth strategy
Eckert & Ziegler’s IPO is part of its long-term growth strategy, which focuses on expanding its presence in the global medical technology market. The company plans to use the proceeds from the IPO to invest in new product development, expand its sales and marketing efforts, and pursue strategic acquisitions.
Eckert & Ziegler is confident in its long-term growth prospects, despite the current macroeconomic challenges. The company believes that its strong product portfolio, experienced management team, and global customer base will enable it to navigate the current market environment and emerge as a stronger player in the medical technology industry.
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