Update: Biomaterials for sale as LOQTEQ growth takes off
We expect aap to sustain solid growth driven by the international roll-out of LOQTEQ. Re-investing the proceeds of the planned divestment of Biomaterials by the end of Q1 should augment growth in Trauma. Our fair value is €3.17 per share. A €35-40m sale of Biomaterials may prompt a rerating of the fast-growing Trauma business with potential upside to €3.8 per share.AAP Implantate is engaged in the development, manufacture and marketing of trauma implants for healing fractures, and in biomaterials (bone cements and cementing devices). Co.'s main focus is on human bone and on healing or, if need be, replacing it. In the trauma area, Co. develops solutions to restore fractures (osteosynthesis). These trauma implants are used to fix and stabilize fractures, partly supported by bone graft substitutes. Specifically, Co. develops and manufactures plates and screws for osteosynthesis, while its subsidiary, aap Biomaterials GmbH, focuses on bone cements and cementing devices for arthroplasty and spine surgery and on bone substitutes.
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