Also signs exclusive distribution agreement with TSO3
Getinge Group’s Infection Control business, a specialist in infection control and contamination prevention solutions, has acquired Stericool, a Turkish company focused on low temperature sterilisation using hydrogen peroxide.
The Swedish firm has also signed an exclusive global distribution agreement with Canadian company TSO3, an innovator in sterilisation technology for medical devices.
No financial details have been released.
Founded in 2008, Stericool has its headquarters and manufacturing site in Ankara, Turkey, and employs 20 people. Its sales are expected to total SEK20m (US$2.4m) in the current calendar year.
Today’s announcement marks a major milestone in Getinge’s latest offerings to our customers
Getinge's agreement with TSO3 provides exclusive global distribution rights for its Sterizone VP4 steriliser – a dual sterilant, low temperature system that uses vaporised hydrogen peroxide and ozone. The steriliser was cleared for commercialisation in the US in December 2014 and recently received clearance in Canada to terminally sterilise multichannel flexible endoscopes. The five-year agreement includes a one-off licence fee amounting to approximately SEK65m. Annual net sales are estimated to reach approximately SEK430m by 2020.
'Today’s announcement marks a major milestone in Getinge’s latest offerings to our customers. As a global leader in infection control, Getinge has a unique opportunity not only to enter into the fast growing low temperature sterilisation market, but also to leverage our legacy of excellence as a complete solutions provider,' said Joacim Lindoff, Executive Vice President of Infection Control.
Getinge says the minimally invasive surgery (MIS) market is a leading indicator of growth for low temperature sterilisation equipment. The instruments used in such operations are extremely sensitive to the high temperatures and pressure of a steam sterilisation process. As the minimally invasive surgery market continues to grow at an expected compound annual growth rate of 10 %, according to US market intelligence firm Transparency Market Research, demands for alternatives to steam sterilisers will also increase, thereby providing potential for accelerated business growth within infection control. Estimates on the annual replacement and new business worldwide for low temperature sterilisers totals more than 2,300 units or approximately SEK1.7bn.