ADDvise acquires Surplus Diabetics, Inc.
ADDvise Group AB has today entered into a share purchase agreement with the owners of Surplus Diabetics, Inc. (“Surplus Diabetics”) regarding the acquisition of all the outstanding shares of Surplus Diabetics in accordance with the letter of intent communicated via a press release dated January 17, 2022. Closing of the acquisition takes place today. Surplus Diabetics revenue for the last twelve months as of November 30, 2021, amounted to approximately USD 18.1 million, with an adjusted EBITDA of approximately USD 3.2 million, corresponding to an adjusted EBITDA margin of approximately 17.