MIRA INFORM REPORT
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Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
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Name : |
MEDICON EG |
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Registered Office : |
Chirurgiemechaniker-Genossenschaft, Tuttlingen, 78532 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.10.1941 |
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Com. Reg. No.: |
450082 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject is engaged in production of surgical tools. |
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No. of Employees
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400 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Medicon Eg
Chirurgiemechaniker-Genossenschaft
Tuttlingen, 78532
Germany
Tel: 49746220090
Fax: 497462200950
Web: www.medicon.de
synthesis
Employees: 400
Company Type: Private Independent
Incorporation Date:
14-Oct-1941
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 13.7
Business Description
Founded in 1941, MEDICON eG, Chirurgiemechaniker-Genossenschaft specialisesin the production of surgical tools. Its range of products includes scalpels, scissors, forceps, needle holders, clamps, and wound hooks and retractors. The company additionally offers pneumatic high-speed systems for the cutting and drilling of cranial and spinal bones. It provides a range of product design and development services. In addition, the company organises training programmes and seminars for its clients. It specialises in the screening of instrument sets for hospitals and clinics. The company also offers elastic bands and stainless steel wires for dental implants. It provides surgical instruments for several specialised disciplines, including plastic surgery, neurosurgery, dermatology, dentistry, anatomy, orthopaedics and urology. In addition, the company offers bone surgery related instruments, such as mallets, gouges and vascular devices.
Industry
Industry Personal and Household Products
ANZSIC 2006: 3720 -
Pharmaceutical and Toiletry Goods Wholesaling
NACE 2002: 5146 - Wholesale
of pharmaceutical goods
NAICS 2002: 424210 - Drugs and
Druggists' Sundries Merchant Wholesalers
UK SIC 2003: 5146 - Wholesale
of pharmaceutical goods
US SIC 1987: 5047 - Medical,
Dental, and Hospital Equipment and Supplies
Key Executives
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Name |
Title |
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Eberhard Kreidler |
Director |
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Joachim Schmid |
Director |
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Peter Wenzler |
Chairman |
Registered No.(DEU): 450082
Corporate Overview
Location
Chirurgiemechaniker-Genossenschaft
Tuttlingen, 78532
Germany
Tel: 49746220090
Fax: 497462200950
Web: www.medicon.de
Sales EUR(mil): NA
Assets EUR(mil): 13.7
Employees: 400
Fiscal Year End: 31-Dec-2010
Industry: Personal and Household Products
Incorporation Date: 14-Oct-1941
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(DEU): 450082
Chairman: Peter Wenzler
Contents
· Industry Codes
· Business Description
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3720 - Pharmaceutical and Toiletry Goods Wholesaling
NACE 2002 Codes:
5146 - Wholesale of pharmaceutical goods
NAICS 2002 Codes:
424210 - Drugs and Druggists' Sundries Merchant Wholesalers
US SIC 1987:
5047 - Medical, Dental, and Hospital Equipment and Supplies
UK SIC 2003:
5146 - Wholesale of pharmaceutical goods
Business
Description
Founded in 1941,
MEDICON eG, Chirurgiemechaniker-Genossenschaft specialisesin the production of
surgical tools. Its range of products includes scalpels, scissors, forceps,
needle holders, clamps, and wound hooks and retractors. The company
additionally offers pneumatic high-speed systems for the cutting and drilling
of cranial and spinal bones. It provides a range of product design and
development services. In addition, the company organises training programmes
and seminars for its clients. It specialises in the screening of instrument sets
for hospitals and clinics. The company also offers elastic bands and stainless
steel wires for dental implants. It provides surgical instruments for several
specialised disciplines, including plastic surgery, neurosurgery, dermatology,
dentistry, anatomy, orthopaedics and urology. In addition, the company offers
bone surgery related instruments, such as mallets, gouges and vascular devices.
More Business Descriptions
MEDICON eG
(MEDICON), a medical device company under takes the designing, development, production
and marketing of surgical products, which are used for the ENT, orthopedic,
dental, orthodontic, urology and healthcare markets. The company markets its
products to medical institutions and hospitals. MEDICON classifies its products
into 18 categories, namely General Surgery, Maxillofacial Surgery,
Neurosurgery, Plastic Surgery, ENT Products, Cardiovascular Surgery, Motor
Systems, Minimally Invasive Surgery, Gynecology, Ophthalmology,
Traumatology/Orthopedics, Anesthesia, Dermatology, Anatomy and Autopsy,
Dentistry, Post Operative Care, Sterile Preparation, Sterilization Instruments
and Urology Products. Its General Surgery products category offers instruments
for general surgery, Micro Surgery Instruments, Diagnostic Instruments and
Supercut Scissors. Its Maxillofacial Surgery product offerings include the
Maxillofacial Surgery Instruments, Plate Systems, Distraction Instruments,
Motor Systems and Micro Saws, Microsurgery Instruments.The Neurosurgery
products of the company include neurosurgical instruments, Microsurgery
Instruments, Head, Spinal Column, Plate Systems and the Motor Systems. Under
its Plastic Surgery product category, the company offers Plastic Surgery
Instruments, Liposuction Instruments, Face Lifting Instruments, Rhinoplasty Instruments,
Endoscopy Instruments and Plate Systems. The company’s ENT product offerings
include ENT Instruments, Microsurgery Instruments, Endoscopy Instruments,
Rhinoplasty Instruments, Diagnostic Instruments and Plate Systems. Further, its
Cardiovascular Surgery product line offers Instruments, Microsurgery
Instruments and Thoracoscopy Instruments. The Motor Systems category provides
Micro Motor System, Pneumatic High Speed System, Flexible Cable Motor System,
Shaver System, Surgical Hand Pieces and Micro Saws. The company's Minimally
Invasive Surgery products line offers a wide range of instruments, endoscopes
and devices for use in the field of laparoscopy, arthroscopy and sinuscopy. The
instruments include Hand instruments , Grasping forceps, Punches, Hook
scissors, Arthroscope, Mini arthroscope, Trocar sleeves, Trocars, Obturators,
Monitors, Cameras, Fiber optic sources, Fiber optic cables, Insufflators,
Suction and irrigation devices and DVD recorders. The Gynecology products
category of the company provides diagnostic instruments (specula, dilators, and
biopsy forceps), instruments for minimally invasive surgery (MIS), Micro
instruments (Scissors, Needle Holders, Forceps and Clips) and special
instruments to facilitate routine procedures.Ophthalmology products include
instruments for Ophthalmological surgery and the Diagnostic Products. Its
Traumatology/Orthopedics products include Instruments, Hand Surgery Instruments
and Arthroscopy Products. The Anesthesia product line offers Instruments and
Laryngoscopes. Its Dermatology Products offering includes Instruments and Motor
Systems. Dentistry product line provides dental and oral surgery Instruments,
Micro Saws and Distraction Products. The Sterile Preparation and Sterilization
products offering of the company include cleaning agents for instruments, Instruments
for sterilization, and MEDICONTAINER system for sterile preparation.In
addition, the company provides a customer care service, and repair and
maintenance services through its highly skilled customer care executives and
technicians. The company’s customer care center works 24 hours all through
out the year. MEDICON manufactures its products in the CNC-controlled
manufacturing centers to ensure better customer satisfaction and guarantee to
the products. The company’s products are quality certified, which are in
compliance with the EN ISO 13485:2003 and MDD 93/42 EEC standards. Its sales
and marketing activities are carried out by its sales representatives and
distributors worldwide. The company's products are sold across 120 countries
Worldwide. In January 2012, MEDICON developed a new plate for fixation of the
bone anchored hearing aid system Ponto in cooperation with Oticon MEDICAL.
MEDICON eG
(MEDICON) is a medical device company carries out the design, manufacture and
distribution of surgical products for the healthcare industry. The company was
initially formed with the merger of six companies. Its products portfolio
includes needle holders, retractors, blood pressure manometers, mouth gags,
twist drills, suction tubes, gall duct forceps and arthroscopy products. It
supplies diagnostic tools such as Stethoscopes, Forehead mirrors, Forehead
lamps and Examination lamps to the hospitals and surgical centers. The
company's products are sold through a broad network of distributors in over 120
countries around the globe. Its products are produced at 14 MEDICON production
and CNC-controlled manufacturing centers in Tuttlingen region. MEDICON is
headquartered in Tuttlingen, Germany.
Medicon eG.
Chirurgiemechaniker-Genossenschaft is primarily engaged in wholesale of
pharmaceutical goods. This class also includes: wholesale of instruments and
devices for doctors and hospitals; and wholesale of orthopaedic goods.
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Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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Adeor Medical Technologies Gmbh |
Pullach, Germany |
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Private |
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Bioaccess Inc |
Baltimore, Maryland, United States |
5 |
Private |
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Dausch Medizintechnik GmbH |
Wurmlingen, Baden-Württemberg, Germany |
35 |
Private |
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Rudolf Medical Gmbh + Co. Kg |
Fridingen, Germany |
3 |
Private |
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Vivostat A/S |
Alleroed, Denmark |
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Private |
Executive report
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Board of
Directors |
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Chairman |
Chairman |
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Executives |
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Director |
Other |
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Director |
Other |
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Taxes and social security costs |
0.7 |
0.7 |
0.7 |
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Total payroll costs |
4.8 |
4.7 |
4.8 |
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Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.2 |
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Other operating costs |
5.7 |
6.6 |
7.2 |
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Net operating income |
1.7 |
1.3 |
1.3 |
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Interest received from loans |
0.0 |
0.0 |
0.0 |
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Income received from associated companies |
0.0 |
0.0 |
0.0 |
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Other income |
0.0 |
0.0 |
0.0 |
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Interest payable on loans |
0.1 |
0.2 |
0.3 |
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Other expenses |
- |
0.1 |
0.1 |
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Total expenses |
0.0 |
0.2 |
0.3 |
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Profit before tax |
1.7 |
1.1 |
1.1 |
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Provisions |
0.7 |
1.0 |
0.8 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.6 |
0.6 |
0.5 |
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Net profit |
1.1 |
0.5 |
0.5 |
Annual Balance Sheet
Financials in: EUR (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Legal reserves |
1.5 |
1.4 |
- |
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Other reserves |
4.4 |
4.2 |
- |
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Total reserves |
5.9 |
5.6 |
5.2 |
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Profits for the year |
1.3 |
0.7 |
0.6 |
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Profit brought forward from previous year(s) |
- |
0.3 |
- |
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Total stockholders equity |
8.1 |
7.1 |
6.6 |
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Provisions and allowances |
0.7 |
1.0 |
0.8 |
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Total current liabilities |
4.9 |
5.6 |
7.9 |
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Regularisation account |
0.0 |
0.0 |
0.0 |
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Total liabilities (including net worth) |
13.7 |
13.7 |
15.3 |
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Patents |
- |
0.2 |
0.1 |
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Intangibles |
0.1 |
0.2 |
0.1 |
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Total tangible fixed assets |
0.3 |
0.3 |
0.3 |
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Long-term investments |
0.0 |
- |
- |
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Shares held in associated companies |
0.6 |
0.5 |
0.5 |
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Total financial assets |
0.6 |
0.6 |
0.6 |
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Loans to associated companies |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
1.0 |
1.0 |
1.0 |
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Net stocks and work in progress |
7.1 |
6.8 |
7.6 |
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Total receivables |
4.6 |
5.1 |
6.7 |
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Cash and liquid assets |
1.0 |
0.8 |
0.0 |
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Total current assets |
12.7 |
12.7 |
14.3 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
13.7 |
13.7 |
15.3 |
Annual Ratios
Financials in: EUR (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
1 |
1 |
1 |
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Consolidated |
No |
No |
No |
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Current ratio |
25.94 |
22.62 |
18.10 |
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Acid test ratio |
11.43 |
10.51 |
8.46 |
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Total liabilities to net worth |
0.06% |
0.08% |
0.12% |
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Net worth to total assets |
0.06% |
0.05% |
0.04% |
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Current liabilities to net worth |
0.06% |
0.08% |
0.12% |
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Current liabilities to stock |
0.07% |
0.08% |
0.10% |
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Fixed assets to net worth |
0.01% |
0.01% |
0.02% |
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Return on assets |
0.01% |
0.01% |
0.01% |
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Shareholders' return |
0.01% |
0.01% |
0.01% |
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Profit per employee |
1.09 |
0.54 |
0.52 |
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Average wage per employee |
4.80 |
4.71 |
4.86 |
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Net worth |
8.1 |
7.1 |
6.6 |
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Number of employees |
100 |
99 |
98 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.78.15 |
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Euro |
1 |
Rs.65.09 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.