AddLife acquires Väinö Korpinen Oy – leading Finnish supplier of accessible bathroom solutions

AddLife signed an agreement today for the acquisition of all shares of Finnish Väinö Korpinen Oy. The company develops and designs accessible bathroom solutions, primarily intended for nursing homes for both private and public environments. The acquisition is a positive complement to AddLife’s other companies in home care in the Medtech business area.
 
- “With a growing and aging population throughout the Nordic region, the need for assistive aids in home settings is significant and is only expected to grow. This involves accessible hygiene products that provide greater independence, activity and safety for people with some form of disability,” says Kristina Willgård, CEO, AddLife.

Väinö Korpinen Oy has successfully established itself as the leading supplier on the Finnish market for accessible bathroom solutions. All bathroom solutions and products are developed in close cooperation between designers and care professionals. The products’ functionality, materials, design and placement in the bathroom are all the result of thorough testing. The target group for the company’s solutions comprises individuals with special needs, including advanced age, people with disabilities and people with dementia. The company currently sells its products primarily to the public sector and private care providers in Finland. The company has 15 employees and sales of about EUR 8 million.

The acquisition fits squarely in with the Group’s strategy for continued expansion in the home care sector and comprises an excellent complement to completed acquisitions in the area of home care.

The deal will close on 2 July 2018. The acquisition is expected to have a marginally positive effect on AddLife’s earnings per share for the current financial year.

Stockholm 2 July 2018

AddLife AB (publ.)

For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46-705 10 12 23
Lars-Erik Rydell, Business Area Manager Medtech, AddLife AB, +46 709 46 48 77

AddLife is an independent player in Life Science that offers high-quality products, services and advice to both the private and public sector, mainly in the Nordic region. AddLife has around 600 employees in around 32 subsidiaries that operate under their own brands. The Group has net sales of around SEK 2.3 billion. AddLife shares are listed on NASDAQ Stockholm.

This information was submitted for publication on 2 July 2018 at 2:00 p.m. (CET).