BUCHAREST (Romania), October 10 (SeeNews) – Romanian dental equipment manufacturer Dr. Fischer Dental [BSE:DENT] said on Monday it has acquired a dental laboratory in Germany’s western city of Monchengladbach, following an investment of 70,000 euro ($67,942).
The investment is aimed at expanding the company’s operations in Germany and nearby countries, Dr.Fischer said in a report filed with the Bucharest Stock Exchange.
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The acquisition was carried out through the company’s German subsidiary and includes the goodwill of the laboratory, assets, customers and the team of four specialists who will continue their activity in the laboratory.
Besides the investment, the company also had to pay 10,000 euro in taxes and legal fees.
Dr. Fischer Dental was established in 1995 by Antoaneta Fischer and Peter Paul Fischer, a family of dentists who at that time had work experience in the field in Berlin and Dusseldorf. The company has been operating in Bucharest under its current name since 2014.
Since February, Dr. Fischer Dental has been listed on the AeRO market of the Bucharest Stock Exchange. The group company owns the shares of Dr. Fischer Digital Lab, SDS SRL established in Romania, and of the German subsidiary.
The group booked a turnover of 10.4 million lei ($2.04 million/ 2.1 million euro) in 2021, out of which 99.9% came from the sale of prosthetic works. Dr. Fischer Dental’s turnover was 9.8 million lei at the end of 2021.
Its shares traded flat at 2 lei by 1433 CET on Monday, bourse data showed.