PAYER Group invests in veterinary medicine
St. Bartholomä, April 20, 2010
With its stake in the Styrian start-up company smaXtec, PAYER is investing in the future market of veterinary medicine, which will enhance its expertise in Health Care Solutions.
With its headquarters in St. Bartholomä and production plants in the Styria region of Austria, as well as in China, Hungary and Ukraine, the PAYER Group has repeatedly formed the topic of many a conversation over the last few months thanks to its partnerships with highly successful companies such as Roche Diagnostics in Graz or the Knill Group. Now, a further example is in the pipeline that illustrates how Styrian companies are pooling their various areas of expertise in order to create innovative products that are significant on an international scale.
The background to the formation of the new partnership with smaXtec is as follows:
Rob Bekkers, CEO of the PAYER Group has been fulfilling the role of a mentor in the Science Park in Graz since 2008. In this role, he uses his experience as CEO of a global player in both commercial and technical interests to support entrepreneurs.
During the course of his involvement in the Science Park, he developed an increasingly close partnership with the start-up company smaXtec, which led to PAYER holding a 19% stake in this company.
Rob Bekkers explains: “We have every confidence in this company and the significant international market potential. In addition, our core expertise is incorporated neatly into this business idea. These criteria were the deciding factor in making this investment.” PAYER is also represented on the Board of Directors of smaXtec in the form of Karlheinz Schmuck, BU Manager of Industrial Solutions/Health Care Solutions.
smaXtec will shortly present to the world a veterinary medical tool, the prototypes of which will soon be manufactured following successful research and test phases across Europe.
PAYER’s expertise in the fields of development, tool manufacture, plastic injection moulding and manufacturing technology, coupled with smaXtec's background in innovation in veterinary medicine not only promise to deliver a breakthrough in terms of 'breeding healthy livestock', but also make for another success story of a product that is developed in the region of Styria. Production is still to begin this year in the fourth quarter of 2010 and we are predicting a turnover of 3 million euros over the next three years.
Further details about smaXtec and the veterinary medical product will be published soon as part of our own press releases.
PAYER Group
The PAYER Group, a global market player, is made up of a number of business sectors: Personal Care, Industrial Solutions und Health Care Solutions. Globally, PAYER maintains subsidiaries in Germany and Hong Kong and possesses plants in Hungary, China and since 2008 in Ukraine too. PAYER currently employs around 1200 staff worldwide and just under 80 at its headquarters in Western Styria, Austria. The Group achieved turnover of 71 million euros in 2009. www.payergroup.com
smaXtec
smaXtec was established in April 2009 by Stefan Rosenkranz and Mario Fallast and operates in the field of developing specialist electronic equipment. The company works with the support of the Science Park in Graz, FFG, SFG and the Austrian Economy Service [Austria Wirtschaftsservice AWS] and has since employed 7 members of staff. Alexis Cukier is a partner of smaXtex and is also its CEO. The trained vet is a 'Business Angel' at the AWS-I2 Fair and has supervised the project since 2008. At present, the company mainly operates in the field of telematics in the veterinary sector. The technology developed by smaXtec can be used in other applications, however.
