Capio acquires a Norwegian eye specialist clinic
Capio has signed an agreement to acquire 51% of the shares in Orbita Øyelegesenter AS, including subsidiaries (“Orbita”). The clinic is specialized in ophthalmology and offers a broad range of eye treatments, including cataract and strabismus surgery. Net sales in 2017 are estimated to MNOK 20. The acquisition of Orbita represents a new specialty for Capio in Norway and strengthens the healthcare offering of the Norwegian operations.
Orbita provides ophthalmology treatments at two locations in Oslo and Drammen. The former owners of Orbita remain shareholders and will continue their involvement in the company, which secures continuity and knowledge transfer. The acquisition follows recent acquisitions of eye specialist clinics in Sweden and Germany and further strengthens Capio’s healthcare offering within ophthalmology and expands the Group’s footprint in the Nordics.
Eye diseases are to a large extent age related, and the Norwegian market is consequently expected to grow with the forecasted demographic development in Norway (with an increasing share of the population being elderly). An ageing population combined with a higher prevalence of eye diseases from lifestyle effects (such as e.g. diabetes), is expected to lead to a general increase in the demand for eye treatments.
Enterprise value is MNOK 17 for 51% of Orbita and Capio has the option to acquire the remaining 49% of the shares after four years. The acquisition is estimated to be closed and included in the Capio Group from October 2, 2017. The acquisition is not expected to significantly impact the Group’s earnings in 2017.
For information, please contact:
Kristina Ekeblad, IR manager
Telephone: +46 708 31 19 40
Capio AB (publ) is a leading, pan-European healthcare provider offering a broad range of high quality medical, surgical and psychiatric healthcare services through its hospitals, specialist clinics and primary care units. Since the Danish operation was acquired at the beginning of 2017, Capio operates in five countries; Sweden, Norway, Denmark, France and Germany. In 2016, Capio’s 12,435 employees provided healthcare services during 4.7 million patient visits across the Group’s facilities, generating net sales of MSEK 14,069. Capio operates across three geographic segments: Nordic (54% of Group net sales 2016), France (38% of Group net sales 2016) and Germany (8% of Group net sales 2016). For more information about Capio, please see www.capio.com.