Vanguard AG Completes Takeover of Pioneer Medical Devices AG

Vanguard AG Completes Takeover of Pioneer Medical Devices AG

AMDR congratulates member company Vanguard AG in completing its acquisition of Pioneer Medical. AMDR’s translation to English of portions of release.  For full release, see link below.

….Today, the insolvency administrator Joachim Voigt-Salus confirmed that he has sold the Saxony-Anhalt plant of Pioneer Medical Devices AG with effect from 1 September 2018 to Berlin Vanguard AG. All around 45 jobs in Aschersleben (near Magdeburg) will be taken over by the buyer in order to continue the business operations of the reprocessing service provider for high-quality medical devices.

Berlin-based Pioneer Medical Devices AG went bankrupt in mid-January 2018 after failing to pay taxes, social security contributions and bank debt due to financial mismanagement. Since then, lawyer Joachim Voigt-Salus (law firm VOIGT SALUS.) Has been the provisional insolvency administrator, continuing his business activities with an annual turnover of around € 5 million in 2017…

… After talks with potential investors, the final negotiations were concluded this week with VANGUARD AG. VANGUARD is the European market leader in the processing of so-called disposable products and – in addition to the processing of critical C products for the German market – offers a wide range of CE-certified disposable products across the EU. Silence has been agreed on the purchase price….

For full story, click here (in German).

By | 2018-09-07T19:19:49+00:00 September 7th, 2018|In the Press|0 Comments