Fagron Sa · EURONEXT:FAGR
Fagron Sa — Arseus — Investor Day (April 2013)
124 slides from Fagron Sa's investor day presentation, Apr 25, 2013
Slide 1: One-Stop-Shop for a Healthy Future
One-Stop-Shop for a Healthy Future © 2013. Arseus. All rights reserved.
Slide 2: Capital Markets Day
Capital Markets Day © 2013. Arseus. All rights reserved. Ger van Jeveren, CEO Arseus and Fagron Jan Peeters, CFO Arseus and Fagron Dirk Van Lerberghe, CEO Corilus Jacob Jackson, CEO Freedom Pharmaceuticals Capelle aan den IJssel, the Netherlands 25 April 2013
Slide 3: Pharmaceutical compounding, Medical ICT, dental solutions
Pharmaceutical Medical ICT Developer of Solutions for dental compounding solutions concepts for dental and medical and medical professionals professionals 1,269 FTE 274 FTE 304 FTE 450 FTE € 290 million € 38 million € 91 million € 128 million 2
Slide 4: Group organisation and divisions
Ger van Jeveren Dirk Van Lerberghe Mario Huyghe Medical Dental Activities Julie Duo-Med Hader distri- distri- focused Owandy bution bution on dental activities activities labs Dominique René Dirk De René Deschietere Benninger Cuyper Benninger 3
Slide 5: Our markets
Our markets Founded 2007 Turnover 2012 € 547 million Headquarters Rotterdam (NL) Countries 30 Waregem (BE) FTE 2,370 CEO Ger van Jeveren CFO Jan Peeters 4
Slide 6: A strong market with high growth potential
A strong market with high growth potential Arseus benefits from key market drivers … Non-cyclical Ageing population industry Professional Growing healthcare healthcare Focus on aesthetics expenditure market Increasing public Technological healthcare innovation awareness … that provide significant po
Slide 7: Compelling growth strategy
Compelling growth strategy Arseus House of Success Continuous Operational Buy-and- Own Brands/ Added-Value Strengthening Excellence Build Strategy Innovations Solutions of Positions 6
Slide 8: Operational Excellence
Operational Excellence Focus on Excellence • One IT system for whole Arseus • Excellent supply chain • Centralised robotised warehouses per division • State-of-the-art production facilities per division 7
Slide 9: Operational Excellence: focus on savings
Operational Excellence Focus on savings • No head hunters • No interims • No consultants • No brokers • No advisors • No legal cases • Excellent training programs, dedicated employees resulting in internal recruitment and promotions 8
Slide 10: Continuous strengthening of positions
Continuous strengthening of positions • Always number 1 or 2 in selected markets or market segments • Fagron: Global market leader in pharmaceutical compounding • Corilus: Market leader in Belgium and leading positions in several segments in the Netherlands and France in total ICT-solutions for medi
Slide 11: Buy-and-build strategy
Buy-and-build strategy • Florien (Brazil) • Four compounding pharmacies (Colombia) • Orbus Pharma (Colombia) • Gallipot (USA) • Galfarm (Poland) • Julie/Owandy (France) • DEG (Brazil) • ApodanNordic • Tamda (Czech) • Devroe Instruments PharmaPackaging (Denmark) • Unikem (Denmark) (Belgium) • B&B Pha
Slide 12: Focus on own brands and innovations
Focus on own brands and innovations 2007 2012 Arseus brands Distributions 25% 45% 55% 75% Arseus Distributions brands Goal for 2013: 90% Arseus brands 11
Slide 13: Added value
Added value Pentravan® • Innovative vehicle for transdermal drug delivery • Developed and trademarked by Fagron Greenock® • State-of-the-art software for pharmacies • Developed and trademarked by Corilus Hader® Lucky • High-precision surgical torque wrench • Developed and trademarked by Hader Opteo®
Slide 14: Financial highlights
(A ARSEUS Driving superior care Financial highlights
Slide 15: Sales
Sales 80% 600 547 492 500 424 391 400 355 304 300 200 100 0 2007 2008 2009 2010 2011 2012 14
Slide 16: Gross Margin
Gross Margin 450 90% 400 47.0% 46.7% 47.5% 47.6% 49.2% 49.6% 350 300 272 250 241 202 200 186 166 143 150 100 50 0 2007 2008 2009 2010 2011 2012 15
Slide 17: REBITDA
REBITDA 110 111% 100 90 87.4 80 72.9 70 60.4 60 52.7 50 47.6 41.4 40 30 20 10 0 2007 2008 2009 2010 2011 2012 16
Slide 18: EBIT
EBIT 70 120% 60 58.1 50 46.3 40 36.0 30.0 30.5 30 26.4 20 10 0 2007 2008 2009 2010 2011 2012 17
Slide 19: Turnover, REBITDA and FTE by division
Fagron Corilus Healthcare Solutions Healthcare Specialties Turnover 2010 REBITDA 2010 FTE 2010 21% 23% 18% 42% 2% 45% 15% 60% 26% 30% 7% 11% Turnover 2012 REBITDA 2012 FTE 2012 17% 11% 13% 2% 13% 20% 23% 53% 55% 74% 12% 7% 18
Slide 20: Net Financial Debt
Net Financial Debt Net financial debt Adj. net financial debt 250 233 223 200 189 178 166 152 150 104 98 114 106 100 51 51 50 0 2007 2008 2009 2010 2011 2012 19
Slide 21: Financial Covenant
Financial Covenant 3.25 3.0 2.64 2.49 2.48 2.5 2.25 2.19 2.0 1.5 1.33 1.0 0.5 0.0 2007 2008 2009 2010 2011 2012 20
Slide 22: Historical Net Debt Bridge
Historical Net Debt Bridge 600 10.8 5.5 21.5 500 37.0 40.3 400 50.2 266.6 91.4 300 200 235.4 100 233.1 50.6 0 21
Slide 23: Acquisition Split - Period 2009 - 2012
Acquisition Split - Period 2009 - 2012 100% = € 179.8 million Corilus Solutions 7% 7% Specialties 6% Fagron 80% 22
Slide 24: Share Price Performance since IPO
Share Price Performance since IPO on 5 October 2007
Slide 25: Relative performance since IPO
Relative performance since IPO 250 225 200 175 150 125 100 75 50 25 10/'07 03/'08 08/'08 01/'09 06/'09 11/'09 04/'10 09/'10 02/'11 07/'11 12/'11 05/'12 10/'12 03/'13 AEX AMX Bel 20 Bel Mid Arseus Average Indices AScX 24
Slide 26: Share price performance Arseus and indices
Share price performance Arseus and indices IPO – 2013 YTD Arseus +82.9% BEL MID -14.6% AMX -28.2% AEX -36.1% BEL 20 -40.8% AScX -43.0% Average indices -32.6% 25
Slide 27: Fagron, Corilus, Healthcare Solutions, Healthcare Specialties
Fagron Corilus Healthcare Solutions Healthcare Specialties © 2013. Arseus. All rights reserved.
Slide 28: Fagron
FAGRON
Slide 29: Innovating and optimising compounding for tailor-made pharmaceutical care
Innovating and optimising compounding for tailor-made pharmaceutical care
Slide 30: Fagron
Fagron • Founded in 1990 by Ger van Jeveren • Started in 1 country with 1 employee and 1 product • Currently global market leader and active in 30 countries worldwide • 1,300 employees, including more than 150 Ger van Jeveren pharmacists Founder & CEO • Turnover of € 290 million in 2012
Slide 31: Fagron Organisation
Fagron Organisation Executive Committee Fagron Group Ger van Jeveren (52) Chairman René Clavaux (45) Information Management Jan Peeters (46) Finance Constantijn van Rietschoten (43) Marketing and Innovation Frank Verbakel (52) Controlling Michaël Hillaert (35) Area Manager GE, PL, Nordic, FR Erik Ho
Slide 32: What is pharmaceutical compounding?
What is pharmaceutical compounding? • Tailor-made medication • Based on APIs that are out of patent • Compounded in community and hospital pharmacies, based on a pharmaceutical formulation • Alternative dosage forms • Alternative dosage strength
Slide 33: Key drivers of pharmaceutical compounding
Key drivers of pharmaceutical compounding Unique selling point of the pharmacist High-quality and Discontinued drugs cheaper alternative Internet Lesser side effects Tailor-made Pharmacist Drug shortages More individualized New and unavailable approach therapeutic needs
Slide 34: Strategy: Optimize and Innovate Compounding
Strategy Optimize and Innovate Compounding
Slide 35: Mission
Mission • We want to optimize and innovate compounding in order to widen the therapeutic scope of the prescriber, to enable tailor-made pharmaceutical care • By doing so, we are supporting the unique selling point of the pharmacist and improve Compounding the quality of life of the patient
Slide 36: Values
Values Customer is number 1 Speed of execution Innovative Behave as a global Entrepreneurial Result driven market leader
Slide 37: Win-Win-Win Strategy
Win-Win-Win Strategy Prescribers (Hospital) Patients Pharmacists
Slide 38: Business Model
Business Model FCS Concepts Equipment & Supplies Pharmaceutical Raw Materials
Slide 39: Business Model: Pharmaceutical Raw Materials
Business Model Pharmaceutical Raw Materials • Amino acids • Antibiotics • Cortico steroids • Excipients • Extracts • Food additives • Hormones • Minerals • Nutraceuticals • Oils and fats • Opiates • Vitamins • Alcohol and flammable products • Herbs Pharmaceutical Raw Materials
Slide 40: Business Model: Equipment & Supplies
Business Model Equipment & Supplies • Ointment mills • Printed Matters • Packaging • Capsule fillers Equipment & Supplies
Slide 41: Business Model: Concepts
Business Model Concepts • Fagron Derma Concept • Fagron Trademark • Fagron PharmaWhite • KID concept • Semi-finished products Concepts • Formulations for compounding • Selective digestive decontamination • Bio-identical hormone replacement therapy
Slide 42: Business Model: Fagron Compounding Services
Business Model Fagron Compounding Services • Parenteralia • Sterile FCS • Oncology • Intravitreal injections • CADD medication cassettes • Orals with hazardous drugs • Prefilled syringes • Irrigations with medication • Easypumps • Methotrexate formulations
Slide 43: Business Model: Fagron Academy
Business Model Fagron Academy • Training • Education
Slide 44: Geographical Split
Geographical Split Sales Europe 29.0% North America 3.9% 67.1% South America Top priority for 2013 is expanding our business in North America and Canada!
Slide 45: Fagron Freedom Pharmaceuticals
Fagron FREEDOM PHARMACEUTICALS
Slide 46: Freedom Pharmaceuticals: Overview
Freedom Pharmaceuticals: Overview • Current Founder & CEO, Freedom Pharmaceuticals • Effective January 1, 2014: President of Fagron North America • Formerly General Counsel for large independent compounding pharmacy group • Formerly Assistant State Attorney General Jacob G. Jackson, J.D. President &
Slide 47: Freedom Pharmaceuticals: Mission
Freedom Pharmaceuticals: Mission Freedom Pharmaceuticals specializes in the custom wholesale distribution of premium compounding chemicals (APIs and excipients) to independent compounding pharmacies throughout the United States “Empower, Execute, and Enjoy”
Slide 48: Sales
Sales* 25 17 3 2011 2012 2013E * In US Dollars
Slide 49: The Freedom Advantage
The Freedom “Advantage”… Product Assurance Screening System
Slide 50: Product Assurance Screening System
Product Assurance Screening System • FDA registered • cGMP • US pharmacopeia / National formulary • SOPs • CoA • MSDS
Slide 51: Compounding Pharmacy Consulting Services (CPCSI)
Compounding Pharmacy Consulting Services, Inc. (CPCSI) • An active network of lawyers, pharmacists and former PBM Auditors that perform training courses, mock on-site audits and real time practical guidance and support, specific to compounded preparations • Classes held every month
Slide 52: Diversified Pharmaceutical Ingredients (DPI)
Diversified Pharmaceutical Ingredients (DPI) • Addresses the large and growing specialty veterinary compounding market • Robust projected growth in numbers of cats and dogs will boost demand for compounded products • Growing opportunity to serve equine industry in the U.S. – Currently 10 million hor
Slide 53: Freedom Pharmacy Support Services (FPSS)
Freedom Pharmacy Support Services (FPSS) • Compounding support • Formulation assistance • Reimbursement advice • Online resources
Slide 54: Freedom Chemical Supply (FCS)
Freedom Chemical Supply (FCS) • Prepackaged, high quality monographed, USP grade material • Customized package size options related to specific batch requirements • Currently 500 products; together with Fagron more than 5,000 products
Slide 55: Pharmaceutical Compounding in the U.S.: unlimited future
Pharmaceutical Compounding in the U.S.: unlimited future • Total U.S. pharmacy industry over Products and services $200Bn segmentation (2012) • 3.6Bn prescriptions written Specialized annually pharmaceutical manufacturing • Compounding represents approximately 1-3% of total 10% pharmacy industry: Ph
Slide 56: Pharmacy Compounding in the U.S.: External drivers
Pharmacy Compounding in the U.S.: External drivers Number of physician visits Per capita Education of doctors disposable income Number of pets Drug shortages Compounding External drivers
Slide 57: Pharmacy Compounding in the U.S.: Specific drivers
Pharmacy Compounding in the U.S.: Specific drivers Upper/lower Wound care respiratory BHRT Topical Pain Compounding (Baby Boomers) Specific drivers
Slide 58: Obamacare and U.S. population
Obamacare 315 million inhabitants Not poor enough Obamacare Not old enough (Patient Protection and Employers don’t provide Affordable Care Act) 30 million new people with insurance Employed people with HC insurance Medicaid ´Poor´ people Medicare 65+, retired
Slide 59: Number 2 in the U.S. Market
Number 2 in the U.S. Market Pre-transaction Post-transaction 1 1 2 2 3 3 4 4 5 Note: Reflects relative market share of industry participants, based on Company’s estimation
Slide 60: = Oz Ae 1s a8 XG
= Oz Ae 1s a8 XG
Slide 61: Fagronisation: Proven integration processes
Fagronisation: Proven integration processes • Acquired and successfully integrated 14 acquisitions since 2009 • Objectives: • Maintain business continuity throughout the integration process • Minimise disruption to the employees • Switch acquisitions quickly and smoothly to Fagron Corporate standard
Slide 62: Fagronising by IM
Fagronising by IM Closing +3 months +10 months +11 months +11.5 months +12 months Fagron E- OKAPI OPS ADC Reporting Dynamics Business • Management • Purchase • Collaboration • Best practices • Business • Website reporting savings • Video • Standard Intelligence • Webshop • Consolidation • Forecastin
Slide 63: Fagronising by Operations
Fagronising by Operations +3 months +3 months +6 months +9 months +11 months +11.5 months Purchase Product portfolio Establishment Fagron Quality Forecasting and Fagron product savings and OPs included in position of site guidelines planning labelling and KPIs reporting Fagron product within impleme
Slide 64: Fagronising by Marketing
Fagronising by Marketing +3 months +4 months +6 months +7 months +9 months +12 months Fully Mental Verbal Visual Imple- Activation Fagro- Identity Identity Identity mentation nised • Introduction of • Involvement in • Introduction of • Setting up all • Implementing • According to Co-Branding Interna
Slide 65: Fagronising by Finance
Fagronising by Finance Due diligence Closing +1 month After one month First (half) and more year closing (continued actions) • Figures • Execute S&P • Install Okapi • Adapt local • Assist local staff with • Financial staff agreement • Training procedures first official closing internal control • (We
Slide 66: Fagron Results 2012
Fagron RESULTS 2012 ~
Slide 67: Sales Fagron
Sales Fagron 164% 290 243 179 151 137 110 2007 2008 2009 2010 2011 2012
Slide 68: Organic and total turnover growth at constant exchange rates
Organic and total turnover growth at constant exchange rates 40% 35.8% 35% 30% 24.2% 25% 21.8% 20% 18.3% 15% 10.5% 10% 10.9% 9.4% 5% 7.2% 6.5% 5.9% 0% 2008 2009 2010 2011 2012 Organic growth Total growth
Slide 69: FTE Development
FTE Development 1,269 1,164 865 621 574 492 2007 2008 2009 2010 2011 2012
Slide 70: Sales per FTE Fagron
Sales per FTE Fagron 243 239 229 224 207 209 2007 2008 2009 2010 2011 2012
Slide 71: Gross Margin Fagron
Gross Margin Fagron 51.9% 51.4% 150.6 51.3% 124.8 50.7% 48.7% 51.3% 92.0 76.4 66.7 56.4 2007 2008 2009 2010 2011 2012
Slide 72: Opex as % of Sales
Opex as % of Sales -29.8% -31.6% -31.8% -32.6% -33.1% -33.4% 2007 2008 2009 2010 2011 2012
Slide 73: EBITDA Fagron
EBITDA Fagron 21.5% 19.9% 62.4 19.9% 48.3 18.0% 16.9% 35.6 18.4% 27.1 23.2 20.2 2007 2008 2009 2010 2011 2012
Slide 74: Fagron Innovations
Fagron Innovations = id LOLLIBASE® 500 g PENTRAVAN ® BASE - 500G
Slide 75: Espumil
Espumil®
Slide 76: Pentravan
Pentravan® PENTRAVAN® n. AFagron trademarked, . innovative vehicle for compounding ” % transdermal creams. Its unique formulation ensures effective and proven transdermal « enetration of APIs and provides @ yanishing cream with an elegant skin feel. —— Ready-to-use and proven = — = —-_ _— ~~ <—, eff
Slide 77: Lollibase
Lollibase®
Slide 78: Omeprazole & Syrspend SF Alka Kit
Omeprazole & Syrspend® SF Alka Kit
Slide 79: Business Model FCS
Business Model FCS
Slide 80: Fagron Compounding Services – the Netherlands
Fagron Compounding Services – the Netherlands
Slide 81: Fagron Compounding Services – Belgium
Fagron Compounding Services – Belgium
Slide 82: Fagron Compounding Services – Colombia
Fagron Compounding Services – Colombia Medellín Bogotá Cali
Slide 83: Fagron Academy, Foundation and programs
FAGRON FAGRON Academy Foundation FAGRON FAGRON Partner Program Global Management Program FAGRON FAGRON Compounding C Matters FAGRON
Slide 84: Fagron Academy
Fagron Academy
Slide 85: Fagron Academy
Fagron Academy Fagron offers more than 2,000 courses annually to pharmacists and prescribers
Slide 86: Fagron Foundation
Foundation \ FAGRON
Slide 87: Projeto 2013 - A Casa Magistral
Projeto 2013 - A Casa Magistral Casa Magistral Objetivo Criancas manos privilagiadas terlio om aspaco divertide para eprander a brincar. Fornacer Educaclo Complamentar apés o pariede lative 20 meninas (g-40 ance}. Sustentada e Sustentando o mercado Magistral Atividades focadas em +Artes; Beneficios
Slide 88: Fagron Global Management Program
Fagron Global Management Program
Slide 89: Fagron Global Management Program
Fagron Global Management Program Talented Master Internal and International Leadership young (preferably in external ambition potential professionals Pharmacy) candidates
Slide 90: Fagron Partner Program
A str sat +4 (eo @ ryan FAGI ALIN Partner Program
Slide 91: Fagron Partner Program
Fagron Partner Program Fagron Brazil Fagron Iberica Fagron Germany Fagron the Netherlands
Slide 92: Building one brand for compounding
Building one brand for compounding Fagron, the global number 1 in pharmaceutical compounding
Slide 93: Focus on total ICT-solutions for medical professionals
Focus on total ICT-solutions for medical professionals
Slide 94: 25,000 customers, good interaction with care providers
93 Hospitals Specialists Dentists Pharmacies GP’s 25,000 customers Tele- monitoring Good interaction with medical care providers & government Care teams Family care GPs and pharmacies 110 developers Quick response Ambulant GP guard care providerscenters & deployment Elderly homes Patients customers
Slide 95: Corilus
94 Corilus Company • CEO: Dirk Van Lerberghe • FTE: 274 (incl. 90 software developers, excl. 20 off-shore developers) • Own brands (as % of sales): 65% • Seven locations in Belgium, the Netherlands and France Products • Total ICT-Solutions, developed in-house, for a wide range of medical and paramed
Slide 96: Sales
95 Sales 42.3% 25.1% 27.5% 28.1% 29.5% 29.4% 29.6% REBITDA 38.0 margin 34.3 31.1 28.8 26.7 26.2 2007 2008 2009 2010 2011 2012
Slide 97: Customer growth
96 Customer growth International Corilus BE 11,503 10,117 8,723 7,582 460 420 14,900 14,000 12,000 12,000 12,000 12,000 2007 2008 2009 2010 2011 2012
Slide 98: Mission
Mission Supporting the health care community with innovative ICT solutions that improve practice management resulting in better healthcare and optimized care and healing processes in a multi- disciplinary environment.
Slide 99: Strategy - Customer Intimacy
Strategy - Customer Intimacy • Innovative software • Satisfied customers • In-depth sector knowledge • Growth and career opportunities
Slide 100: Healthcare landscape until the 60's
99 Healthcare landscape until the 60’s Hospitals Pharmacies GP’s Ambulant Patients care providers
Slide 101: '60 until begin 21 century
100 ‘60 until begin 21 century GP’s Pharmacies Medical Hospitals Specialists devices Ambulant Elderly homes Patients care providers
Slide 102: Organisational shift in healthcare
101 Organisational shift in healthcare • Aging population • Growing number of chronicle diseases • Exponential growth medical solutions/possibilities • Patient is becoming a customer, patient involvement • Economic pressure
Slide 103: Future landscape: collaboration & sharing
102 Future landscape: collaboration & sharing Hospitals Specialists Dentists Pharmacies GP’s Tele- monitoring Patient Centric Care teams Family care Recip-e eHealthBox Ambulant GP guard Elderly homes Patients care providers centers customers
Slide 104: Number 1 or 2 in each segment
103 Number 1 or 2 in each segment Hospitals Specialists Dentists Pharmacies 1 1 1 1 + 60 + 500 + 2000 + 2300 Hospitals Specialists Dentists Pharmacies GP’s Tele- 1 monitoring + 3000 GP’s 1 Care teams + 2500 Family care 2 Connections with Ebox 2600 Physio’s 1 Ambulant care providers GP guard 1 center
Slide 105: Creating value by data integration
104 Creating value by data integration Hospitals Specialists Dentists Pharmacies GP’s Tele- monitoring Care teams Family care GPs and pharmacies Ambulant GP guard Elderly homes Patients care providers centers customers
Slide 106: Distribution activities focused on Dental and Medical professionals
Distribution activities focused on Dental and Medical professionals
Slide 107: Healthcare Solutions
Healthcare Solutions Company • CEO: Mario Huyghe • FTE: 450 • Headquartered: Waregem (Belgium), offices and depots in Belgium, the Netherlands, France and Germany Activities focused on dental practices • Innovative and integrated total solutions, products and services for dental practices across Eur
Slide 108: Sales
Sales 160 1.0% 0.9% 1.8% REBITDA margin 140 127.7 125.3 122.4 120 100 80 60 40 20 0 2010 2011 2012 107
Slide 109: Healthcare Solutions Mission
Healthcare Solutions Mission Our solutions increase efficiency and quality of outcome, reduce complexity and cost for dental and medical professionals We help our customers to increase their professionalism and enable them to focus on their patients This way, we drive superior care for our customers
Slide 110: Healthcare Solutions strategy endorses the mission
Healthcare Solutions strategy endorses the mission Increase • Archimed concept for group practices efficiency • Workflow optimization Reduce • Digital integration complexity • Patient flow optimization Reduce • Automation supply/e-shop cost • Implant planning … • Hygiene software Improve (traceabili
Slide 111: Healthcare Solutions
© caLTHCARE SOLUTIONS
Slide 112: Schiller Fred Easy
Schiller Fred Easy Healthcare Solutions offers since 2012 in addition to stand-alone devices also AED AED integrated solutions for urgent and emergency services The Schiller Fred Easy and 'Rescue Viewer 111
Slide 113: AMMS Concept
AMMS Concept AMMS is the integrated total solution for the optimisation of the supply and administration of medicines to the residents of nursing homes through the pharmacy Quick wins: • Time saving • Enormous reduction in the number of errors in delivery, set-up and administration 112
Slide 114: Arseus Lab, Julie-Owandy, Hader, Duo-Med
Arseus Lab Julie-Owandy Hader Duo-Med
Slide 115: Healthcare Specialties
Healthcare Specialties Company • CEOs: René Benninger Hader / Julie-Owandy Dirk De Cuyper Duo-Med Dominique Deschietere Arseus Lab • FTE: 304 FTE Activities Strategy • Healthcare Specialties develops solutions that create value, reduce complexity, provide convenience and help customers to increase t
Slide 116: Sales
Sales 120 15.9% 13.2% 10.3% REBITDA margin 100 92.7 91.2 88.3 80 60 40 20 0 2010 2011 2012 115
Slide 117: Practice management software for dental practitioners in France
Develops and provides practice management software to dental practitioners in France (market leader) 116
Slide 118: Imaging equipment for dentists
Leading developer and supplier of imaging equipment for dentists, incl. 2D and 3D units and intra-oral digital sensors 117
Slide 119: Precision tools and components
Develops and produces a wide variety of precision tools and components with a focus on micro mechanics 118
Slide 120: Solutions for dental labs in Europe
Provides innovative solutions, products and services to dental labs in Europe (market leader) 119
Slide 121: Solutions for surgeons and hospitals in the Benelux
Supplies surgeons and hospitals in the Benelux with innovative solutions and products (market leader) 120
Slide 122: Outlook 2013
© arseus Driving superior care Outlook 2013
Slide 123: Outlook 2013
Outlook 2013 Management expects healthy organic turnover growth and profitability that is expected to grow faster than turnover growth 122
Slide 124: Thank You
© arseus Driving superior care