AXXA - Exxe Group acquires MMeditech GmbH; immediately accretive to revenues

Exxe Group ([[AXXA]] +26.6%) acquired a controlling interest in Swiss medical supply company MMeditech GmbH whose primary revenue drivers are focused on the provision of globally sourced, high-use consumable medical supplies.Through the acquisition, immediate revenues to Exxe, a high level of operating profitability, and a $2.8M backlog for 2021 will be generated.Currently, MMeditech GmbH is on track to generate revenues of $2.7M (vs. $869K in 2019) in 2020, revenues of $3.6M and EBITDA of $1.2M (vs. $328K in 2019) in 2021."MMeditech GmbH is AXXA's first medical supply company acquisition and further solidifies our $30.8M revenue estimate for FY21," CEO & president Eduard Nazmiev, Ph.D. commented.

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Exxe Group acquires MMeditech GmbH; immediately accretive to revenues