Exxe Group Acquires Fast-Growing Swiss Medical Supply Company

NEW YORK, Oct. 5, 2020 /PRNewswire/ -- Exxe Group, Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in critical, fast-growing industries, has acquired a controlling interest in Swiss medical supply company MMeditech GmbH. MMeditech's primary revenue drivers are focused on the provision of globally sourced, high-use consumable medical supplies. These include hygiene products, syringes, bandages, and sterilization materiel.

Among other elements, the MMeditech acquisition brings immediate revenues to Exxe, a high level of operating profitability, and a backlog of $2.8 million for 2021. The company is also engaged in other related health care product sales and product development which could bear considerable fruit in future quarters.

MMeditech GmbH is currently on track to generate revenues of $2.7 million in 2020 and is targeting revenues of $3.6 million and EBITDA of $1.2M in 2021. By comparison, in 2019 the company generated revenues of $869K with EBITDA of $328K.

Eduard Nazmiev, Ph.D., CEO, and President of Exxe Group commented: "MMeditech GmbH is AXXA's first medical supply company acquisition and further solidifies our $30.8 million revenue estimate for FY2021. The acquisition provides Exxe with a channel to leverage its existing medical supply chain relationships in order to grow MMeditech's revenues and global supply chain footprint." 

MMeditech background:

Dr. Martin Horst founded MMeditech in 2004 as a sole proprietorship before incorporating as MMeditech GmbH in 2019. The company services the Swiss B2B medical supply market with globally sourced medical supply products. In addition, it is a financial partner at all stages of venture and post-venture, private, and public – partnering in the biotech sector.

About Exxe Group 

Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com.

CONTACT: Exxe Group IR: [email protected], +1-855-285-2285

Forward-Looking Statements 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

SOURCE Exxe Group, Inc.

Related Links

https://exxegroup.com

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