Grifols acquires 50% of the share capital of Kiro Robotics for 21 million euros


19.09.2014
 
  • Grifols strengthens its commitment to research and promotes the international growth of its Hospital division
  • Kiro Robotics, a technological company specialized in the development of machinery and equipment to automate hospital processes, is a spin-off from MONDRAGON Health, the specialist health unit of the MONDRAGON Corporation
  • The company is the developer of some of the world's most sophisticated hospital pharmacy technology: the Kiro Oncology robot, which automates the preparation of intravenous medication for chemotherapy treatment
  • This strategic alliance and Grifols' participation in the company's ownership will ensure the viability and continuity of its projects and will open international markets to the Kiro Oncology robot through Grifols' Hospital division

 

Barcelona, September 19, 2014: Grifols has acquired 50% of Kiro Robotics, a spin-off from MONDRAGON Health, a strategic unit of the MONDRAGON Corporation, by subscribing an equity offering for the value of 21 million euros in the form of a cash payment.

Created in 2011, Kiro Robotics is a technology company that specializes in the automation of machinery for the hospital sector. It concentrates on developing machines and equipment to automate and control key points of hospital processes, and hospital pharmacy processes in particular, improving the safety of patients and health professionals alike, and delivering increased efficiency.

It currently has some of the world's most advanced technology in the hospital pharmacy sector: the Kiro Oncology robot, which automates the preparation of intravenous medication for chemotherapy, minimizing the risk that health professionals will come into contact with these hazardous products.

Grifols' inclusion among the shareholders of Kiro Robotics will help to ensure the viability of Kiro's future projects and will guarantee the continuity of those already under way. In addition, Grifols, through its Hospital division, with its experience, knowledge and international sales network, will promote the global marketing of the robot in international markets, including the United States. Grifols will start direct marketing of the product in Spain, Portugal and Latin America in January 2016. 

Grifols and its partners Kiro Robotics sign a Joint Venture agreement for a minimum of 4 years

In addition to acquiring 50% of the voting and financial rights in Kiro Robotics, Grifols has signed a Joint Venture agreement with the company's other shareholders: Mondragon Innovación S.P.E., S.A., MondragonAssembly, S.Coop., Agrupación de Fundición y Utillaje S.Coop., all part of the MONDRAGON Corporation.

Among other issues, this agreement regulates the equity offering subscribed by Grifols and representation on the governing bodies and management of Kiro Robotics, including both the Board of Directors and other internal management bodies.

The Joint Venture Agreement establishes a minimum commitment or lock-up period of 4 years from the date of signature. At the end of this period, the transfer of shares will be subject to the usual restrictions in operations of this type, including sale rights, preferential purchase rights, and drag-along and tag-along rights.

About Grifols

Grifols is a global healthcare company with a 70-year legacy of improving people's health and well being through the development of life-saving plasma medicines, diagnostics systems, and hospital pharmacy products.

The company is present in more than 100 countries worldwide and is headquartered in Barcelona, Spain. Grifols is a leader in plasma collection with a network of 150 plasma donor centers in the U.S., and a leading producer of plasma-derived biological medicines. The company also provides a comprehensive range of transfusion medicine, hemostasis, and immunoassay solutions for clinical laboratories, blood banks and transfusion centers, and is a recognized leader in transfusion medicine.

In 2013, sales exceeded 2,740 million euros with a headcount of 13,200 employees. Grifols demonstrates its commitment to advancing healthcare by allocating a significant portion of its annual income to R&D.

The company's class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE:GRF).  Its non-voting class B shares are listed on the Mercado Continuo (MCE:GRF.P) and on the U.S. NASDAQ via ADRs (NASDAQ: GRFS). For more information visit www.grifols.com  

About Kiro Robotics

Kiro Robotics is a Spanish company created in 2011 as a spin-off of MONDRAGON Health, the specialist health unit of MONDRAGON Corporation. As a technology company, it develops, manufactures and sells machinery and equipment designed to automate or control critical hospital processes, such as dose dispensing in hospital pharmacy and clinical diagnostic services. It develops technologies designed to improve the efficiency, safety and quality of hospital processes, benefiting patients and reducing the risks to health professionals.

Kiro Robotics currently employs a multidisciplinary team of 25 professionals who are experts in automation, engineering and hospital pharmacy, dedicated to the development, validation and manufacture of new products and applications, and to delivery customer service.

MONDRAGON Health is a strategic unit of the MONDRAGON Corporation, created with the aim of leading development in the health sector, and cooperating with other companies to promote integrated solutions. 

 

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