Establishment Labs Holdings, Inc. (NASDAQ: ESTA), a global medical technology company that focuses on breast aesthetics and reconstruction technologies, which became, earlier this year the first Costa Rican company to trade in the Nasdaq stock market, announced earlier this week, at the Annual World Symposium on Ergonomic Implants that it has entered into definitive asset purchase agreements with its German and Spanish exclusive distributors to acquire certain assets.

Under the terms of the agreements, Menke Med GmbH and Motiva Matrix Spain SL, respectively the exclusive distributors of Motiva in Germany and Spain, will transfer distribution arrangements to Establishment Labs. Establishment Labs will acquire all product inventory and customer relationships, effective November 26, 2018 in Germany and October 29, 2018 in Spain.

“These agreements are an important step forward for Establishment Labs as we invest in our sales strategy to meet the growing demand in Europe,” said Juan José Chacón-Quirós, Founder and Chief Executive Officer of Establishment Labs. “Our distributor partners have given us strong starts in Germany and Spain, and by acquiring these assets we will be able to capitalize on our early success to transition to a direct sales force that should allow us to continue to expand our market position.”

The company currently sells products in more than 60 countries and employs a direct sales force strategy in a number of these markets, including Brazil, United Kingdom, France, Sweden, Denmark and Norway.

Coinciding with this asset purchase announcement, Establishment Labs is hosting its fourth annual World Symposium on Ergonomic Implants. During this event, Establishment Labs gathers leading physicians, scientists and industry experts from across the globe to discuss techniques and state-of-the-art technologies that are shaping the future of breast aesthetic and reconstructive surgeries.

“We value the opportunity to bring together the world’s leading plastic surgeons and scientists to learn and share best practices on the latest innovations in breast surgery,” added Chacón-Quirós. “Ergonomy is transforming the field of breast surgery, and it is an honor to be at the forefront of this transformation and have the opportunity to drive meaningful industry collaboration.”

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