Handicare acquires distributor in North America
Handicare Group AB has acquired the net assets of a distributor based in Colorado.
The distributor, based in Colorado, is selling patient handling and transfer products in eleven states in the US, in which states Handicare currently has limited distribution. Its success in the Acute and Long Term Care markets in the subject states will establish a strong base for Handicare, and therefore, fit very well with the hub strategy being pursued by Handicare in the US.
The distributor has 8 employees and revenue of approximately USD5m. The acquisition will have a marginally positive effect on Handicare´s earnings per share in the current financial year.
Stockholm February 1, 2018
Handicare Group AB (publ)
For further information, please contact:
Asbjørn Eskild, CEO, Tel: +47 905 633 04
Stephan Révay, CFO, Tel: +46 729 666 532
Boel Sundvall, IR, Tel: +46 723 747 487
Handicare offers solutions to increase the independence of disabled or elderly people, and to facilitate for their care providers and family. The offering encompasses a comprehensive range of curved and straight stairlifts, transfer, lifting and repositioning aids, vehicle adaptations and medical equipment. Handicare is a global company with sales in more than 20 countries and is a market leader in this field. The head office is in Kista, Sweden and manufacturing is located at six sites distributed across North America, Asia and Europe. In Oct 2016/Sep 2017, revenue amounted to MEUR 286 and the adjusted EBITA margin was 8.6%. Employees amounted to slightly more than 1,150 and the share is listed on Nasdaq Stockholm. For more information; www.handicaregroup.com.