PENTAX Europe acquires the remaining shares of PENTAX Italia from Movi

PENTAX Europe has acquired the remaining stock of PENTAX Italia from Movi. This further investment by PENTAX Europe into the Italian healthcare market strengthens PENTAX Medical's position in Italy and will bring enhanced customer and professional education services to its Italian customers.

Established in 2007, PENTAX Italia was co-owned by PENTAX Europe and Movi, an Italian distributor of healthcare products. PENTAX Italia has increased its sales of endoscopy products and services over this time, leading to PENTAX Europe's decision to acquire full ownership.

Commenting on the acquisition, Rainer Burkard, Managing Director PENTAX Europe and President PENTAX Medical EMEA said: "Italy has been a strong market for PENTAX Medical and we are keen to continue our growth and bring our market leading products and services to as many customers in Italy as possible. To that end I am really pleased that PENTAX Italia will now be a wholly-owned subsidiary of PENTAX Medical, and thank Movi for its support and contribution to PENTAX Italia's development."

Adriano Tinelli, Managing Director PENTAX Italia said: "PENTAX Italia's success has been built on a combination of both our innovative, high-performance endoscopy products and, importantly, our customer focus. We are very excited about how we can develop our customer experience and we look forward to strengthening our ability to bring our products and professional education services to clinicians throughout Italy."

Enrico Piero Bassani, president of Movi, commented: "PENTAX Italia has been a successful company for many years, thanks to the strong commitment of both shareholders that worked very positively together. The acquisition of our minority share by PENTAX Europe was a natural step for us and of course we wish PENTAX Italia to continue its development, to increase the market share, and keep a strong position in our important market."

Details of the deal were not disclosed.