Press release dated April 17, 2020
Metall Zug Group: Acquisition of majority stake in VRmagic
Zug, April 17, 2020 - The Medical Devices Business Unit (Haag-Streit Group), which belongs to the Metall Zug Group, has signed an agreement to acquire a majority of the shares in VRmagic Holding AG based in Mannheim, Germany.
Möller Wedel Beteiligungen GmbH, part of the Medical Devices Business Unit (Haag-Streit Group), which belongs to the Metall Zug Group, has signed an agreement to acquire around 77% of the shares in VRmagic Holding AG based in Mannheim, Germany. There is an option agreement to buy the remaining 23% of the shares currently held by employee shareholders within the next three years. VRmagic was established in 2001 and is a pioneer for virtual and augmented reality technology in medical training. The solutions developed by VRmagic permit a realistic and dynamic simulation of examinations of and operations on the eye. With the Eyesi® product group, the company is the global market leader in training ophthalmologists and has particular expertise in developing camera systems for highly precise optical tracking. Since 2003, the development and manufacture of cameras for industrial and scientific image processing is a second core activity of VRmagic. In 2019, VRmagic Holding AG and its subsidiaries generated sales of over EUR 10 million and have a workforce of around 65.
By acquiring a majority stake in VRmagic, the Haag-Streit Group is rounding out its offering for ophthalmologists in the key field of training. With the additional technological competency of VRmagic in the fields of digital image processing and virtual reality, the Haag-Streit Group is continuing to expand its leading position.
About the Metall Zug Group
Metall Zug is a group of industrial companies headquartered in Zug. The Group has around 5,000 employees and comprises six Business Units:
- Household Appliances (V-ZUG AG, SIBIRGroup AG, Gehrig Group AG and other subsidiaries)
- Infection Control (Belimed Group)
- Life Science Solutions (Belimed Life Science AG, Belimed Life Science d.o.o.)
- Medical Devices (Haag-Streit Group)
- Wire Processing (Schleuniger Group)
- Technology Cluster & Infra (V-ZUG Immobilien AG, V-ZUG Infra AG, MZ Infra AG)
The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange, Zurich (type B registered shares, securities number 3982108, ticker symbol METN).
Chief Financial Officer
Head of Corporate Communications & IR
Phone: +41 (0)58 768 60 50
Phone: +41 (0)58 768 60 50
Metall Zug AG processes personal data in accordance with its privacy statement available under: https://www.metallzug.ch/en/datenschutzerklaerung.
This press release is available at www.metallzug.ch/en/medienmitteilungen.