Medica Presentation

10 OCTOBER 2019

Full Year 2023 Results

MARCH, 26 2024

Today's Speakers

LUCIANO FECONDINIMARCO FECONDINI

FOUNDER & PRESIDENT

FOUNDED MEDICA IN 1985

AS AN R&D LAB

PREVIOUSLY, HE WORKED

AS CONSULTANT FOR

BIOMED MNOS IN USA,

THEN AS HEAD OF GLOBAL

R&D AT AMICON

(MASSACHUSETTS)

GRADUATED IN CHEMICAL

ENGINEERING IN 1972

CEO

JOINED MEDICA IN 2011

IN MEDICA HE COVERED

ROLES OF INCREASING

RESPONSIBILITIES ACROSS

SEVERAL FUNCTIONS

PHD IN AGRICULTURAL SCIENCES

GRADUATED IN

AGRICULTURAL SCIENCES

LETIZIA BOCCHI

CHIEF IP OFFICER

JOINED MEDICA IN 2010

5YRS AS RESEARCH FELLOW AT UNIVERSITY OF

MODENA & REGGIO EMILIA

PHD IN BIOCHEMISTRY,

MOLECULAR BIOLOGY AND

BIOTECHNOLOGY

GRADUATED IN

BIOTECHNOLOGY

GIOVANNI PLASMATI

IR & CHIEF FINANCIAL OFFICER

JOINED MEDICA IN 2021

15YRS AS AUDITOR FOR PWC UP TO SENIOR

MANAGER ROLE

MSC IN FINANCE AND

CONTROL

GRADUATED IN ECONOMICS

AND BUSINESS

ADMINISTRATION

Global solution provider for healthcare players

BIOMED AND MED-TECH R&D POWERHOUSE

IN MEMBRANES AND ELECTROMEDICAL DEVICES

LEVERAGING ON UNIQUE ON-THE-SHELF KNOW-HOW ACROSS THE ENTIRE VALUE-CHAIN AND A RICH PORTFOLIO OF PROPRIETARY PATENTS

OFFERING A FULL RANGE OF TURNKEY 360° MISSION CRITICAL SOLUTIONS

MAINLY FOR THE BLOOD AND WATER TREATMENT MARKETS

SUPPLYING OWN BRAND PRODUCTS AND TIER 1 GLOBAL PARTNERS IN MORE

THAN 60 COUNTRIES, BOTH CUSTOM AND THROUGH CATALOGUE

SCALABLE TO COUNTLESS

MARKETS AND APPLICATIONS

Productive entitiesCommercial-only entities

  • ▪ INJECTION MOLDING

  • ▪ MOLDS DESIGN AND PRODUCTION

  • ▪ MEDICAL TUBE EXTRUSION

  • ▪ BLOOD LINES AND TUBING SET

  • ▪ ETO STERILIZATION

  • ▪ AUTOMATIC ASSEMBLY LINES

SHAREHOLDING STRUCTURE:

  • • PELMO87 SRL 79,93%

  • • FREE FLOAT 20,07%

Medica S.p.A.

  • ▪ PARENT COMPANY OF MEDICA GROUP

  • ▪ R&D OF MEMBRANE, DISPOSABLE AND MEDICAL EQUIPMENT

  • ▪ MEDICAL EQUIPMENT R&D

  • ▪ QUALITY ASSURANCE AND REGULATORY AFFAIRSSANTO DOMINGO

Source: Management, group financial statements

Note: (1) 7.89% held through Tecnoideal, 92.11% through Medica

MEDICA USA INC

GEOGRAPHICAL EXPANSION OF MEDICAL SALES IN A TERRITORY THAT HAS ALWAYS REPRESENTED ONE OF THE MOST IMPORTANT FOR MEDICA

SIGNED ON 1 MARCH 2023 A DEFINITIVE AGREEMENT WITH

EVOQUA WATER TECHNOLOGIES, AN INDUSTRY LEADER IN

MISSION-CRITICAL WATER TREATMENT SOLUTIONS, TO

ACQUIRE ASSETS TO MANUFACTURE BLOOD AND WATER

FILTER PRODUCTS. EVOQUA WILL RETAIN DISTRIBUTION

RIGHTS TO THE WATER FILTER PRODUCT LINE, INCLUDING

BIOSCIENCE PRODUCT FILTERS AND AUTOMATED

ENDOSCOPE REPROCESSOR (AER) FILTERS.

SIGNED ON 5 APRIL 2023 AN INVESTMENT CONTRACT OF

1,7 €MLN WITH SIMEST - THE COMPANY OF THE CASSA

DEPOSITI E PRESTITI GROUP FOR THE INTERNATIONALIZATION

OF ITALIAN COMPANIES - OF WHICH 0,8 €MLN TAKEN IN

APRIL IN THE FORM OF THE ACQUISITION OF A 30% STAKE IN

MEDICA USA AND 0,9 €MLN TAKEN AS SHAREHOLDER

LOAN AGREEMENT.

SPECIALIZED IN THE DISTRIBUTION AND TECHNICAL ASSISTANCE OF MEDICAL DEVICES FOR HOSPITAL AND HOME DIALYSIS AND IN THE MANAGEMENT OF DIALYSIS CENTERS

MEDICA GMBH (INCORPORATED IN FEB 2023)

GEOGRAPHIC EXPANSION PROJECT OF MEDICA'S BUSINESS,

WITH A PARTICULAR FOCUS ON DIRECT SALES IN THE

APHERESIS DIVISION.

Source: Management, group financial statements

35+ Years Pioneering Membrane & Medical Equipment Innovation

SARMED STARTS PRODUCTION OF HEMODIALYZERS ON AUTOMATED ASSEMBLY LINE

KEY DEVELOPMENTS

HOLLOW FIBERS

MEDICAL EQUIPMENT

1985

FOUNDATION OF MEDICA SRL

1985-1990

R&D ACTIVITIES (MEDICAL EQUIPMENT FOR FLUID BALANCE IN PATIENT IN CRITICAL CARE, LEAK TESTING MACHINE AND SOLVENT DISPENSER)

1990

ACQUISITION OF TECNOIDEAL

1995

ACQUISITION OF MENFIS BIOMEDICA

(GASTROENTEROLOGY AND URODINAMICS)

2003

START OF SARMED OPERATIONS

GLOBALFINANCIAL CRISIS

CRRT (CRITICAL ) RELEASE

2009

2011

MEDICA MÉDITERRANÉE (TUNISIA) ACQUISITION

2012

MIRANDOLA EARTHQUAKES

2008

FIBER FOR OXYGEN HUMIDIFICATION

2005

LAUNCHSOF CARDIO MART / DEDYCA EQUIPMENT FOR CONGESTIVE HEARTH FAILURE (ULTRAFILTRATION)

2017

RECONSTRUCTI ON AFTER EARTHQUAKE COMPLETED

2013

CARPE DIEM (NEW BORN

CRRT)

PROJECT SOLD TO BELLCO (NOW MEDTRONIC)

2018

CASCADE FILTRATION FIBER

2020

GRAPHENE

EU

FLAGSHIP FOR WATER FILTRATION

2019

ORGAN TRANSPLANT EQUIPMENT CE MARKED

2017

PLASMAFERESIS FIBER

POINT OF USE FILTERS FDA APPROVED IN THE

USA

ACQUISITION FY2021 THF

FY 2022 SPINDIAL, DIALPOINT

AND SLOM

CORPORATION MEDICA AT LTD MEDICA USA INC + ASSET

DEAL FROM EVOQUA

MEDICA GMBH

PATENT

ACQUISITION OF FAMILY PATENT

FROM EXOSOMICS

510K HEMOCONCETRATORS

FROM US FDA

NOVEMBER 2021

LISTING ON THE

EURONEXT GROWTH MILAN

TODAY

MEDICA DISTRIBUTES

GLOBALLY A FULL RANGE

OF AVANT-GARDE MEDTECH SOLUTIONS

TODAY

MEDICA IS THE REFERENCE R&D AND INDUSTRIAL PARTNER OF

GLOBAL SECTOR LEADERS

TODAY

MEDICA BOASTS A RICH, VISIBLE PIPELINE OF NEW

HIGH-VALUE ADDED

PRODUCTS

2021 - 2023

MEDICA SHOWED GREAT RESILIENCE AFTER GLOBAL FINANCIAL CRISIS AND THE 2012 EARTHQUAKES, AND IS NOW IN THE SWEET SPOT FOR A

SUCCESSFUL LISTING TO ACCELERATING GROWTH FURTHER, EXPLOITING CLEAR ORGANIC AND M&A OPPORTUNITIES

Source: Management

Leading Pocket-Size Italian Multinational MedTech

KEY FACTS

REVENUES BREAKDOWN(2)

Source: Management, group consolidated financial statements

Notes: (1) Includes tubing sets, blood filters and ultra-filters; (2) remaining 5% is related to other minor activities, in particular R&D consultancy, technical assistance, sale of spare parts and services

Diversified Among Structurally Growing End-Markets

MAIN END-MARKETS AND RELATED KEY POINTS

Historical Sales (€M)

Gross Margin Profile

MEDICAL DIVISION a Acute & Apheresis: new, high-margin products development

b Chronic (Dialysis): DiaSmart dialysis machine (launch 2025) to provide

  • • OEM: reduced incidence over time of OEM business, even if several deals are currently under discussion and never sold less than 10 €M in the last 3 years. Strategy though is branded

WATER DIVISION

  • ▪ With asset deal from Evoqua remains basically mono-geography but with 2 big clients and 2 segments

  • ▪ Future focus on pushing sales in EU and Asian markets

  • ▪ It will be integrated with new product line based on breakthrough graphene technology (investments ongoing)

ASSEMBLY TECHNOLOGY

  • ▪ Direct commercial presence in Europe, North America (since 2017) and China (since 2020) to boost custom automation contracts >1 €M

  • ▪ Standard product line renovation in 2021-2022

  • ▪ Delay impact from Russiam Ukrainan conflict partially recovered

CONTINOUS EXPANSION IN MULTIPLE END-MARKETS LEVERAGING ON THE SAME, REPLICABLE KNOW-HOW AND TECHNOLOGIES

(plasmafilters, VitaSmart, AcuSmart, AferSmart) completed in 2021; focus moves to clinical and marketing activity (Medica Gmbh and Medica USA contribution from April 2023)

Medica dealers with a complete product portfolio and replicate razor-blade business model. Spindial contribution from 31 July 2022

2022A

2023A

13,5

12,5

23,6

9,2

3,6

9,3

20,7

10,9

14,8

6

Note: The representation excludes "Menfis Division" (Urodynamic & Gastroenterology) as well as the voice "Other", including mostly R&D and consultancy projects and services

Source: Management accounts

Inter-Group Model

R&DProductionSales & Marketing

TECNOIDEAL PRODUCTS EXPRESS A DEEP UNDERSTANDING OF THE PROCESSES OF PRODUCTION OF DISPOSABLE MEDICAL DEVICES;

MACHINERY EXECUTES ALL MAJOR STEPS REQUIRED BY THE ASSEMBLY AND CONTROL OF DISPOSABLES

Source: Management

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Disclaimer

Medica S.p.A. published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 19:01:55 UTC.