AGITO sells GME business to FAMECO

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AGITO sells GME business to FAMECO

by Gus Iversen, Editor in Chief | May 06, 2015
Business Affairs European News
AGITO Medical has sold the general trading segment of its business to FAMECO, a move which will enable the company to focus exclusively on its rapidly expanding imaging business.

Anders Fage Jensen, CEO of AGITO, aptly summarized the transaction: "It means goodbye to the trading company AGITO and hello to the imaging company AGITO."

DOTmed News spoke to him about the sold portion of the company which, although years ago had been a crucial part of its business model, had come to only represent about 6 percent of the company.

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"We looked at those figures and asked ourselves, 'Are we the right owners for this business? Or should we focus on only doing imaging equipment instead of being a trading company?'," said Jensen.

Directly before the transaction, Jensen estimated half of the company's turnover was parts, rental and services, while the other half was trading. Of the trading half, he said 44 percent was imaging. Jensen counts mobile imaging, spare part supplying, and imaging service contracting among the chief concentrations of the imaging business.

Five years ago — with 100 percent of its turnover derived from trading — AGITO was a different company.

Letting go of the GME business also means AGITO can stop utilizing warehouse facilities in France and centralize the business in the North of Denmark, where Jensen said the company recently took occupancy in a 4,000 square meter space.

Meanwhile, the GME business should be right at home with FAMECO, a company specializing in high quality refurbishing of major manufacturer laboratory instruments.

The financial details of the transaction were not disclosed.

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