Patricia Industries’ acquisition of Sarnova completed
On March 12, Patricia Industries, a part of Investor AB, announced the acquisition of the leading U.S. healthcare product specialty distributor Sarnova Holdings, Inc. from Water Street Healthcare Partners and Sarnova founder Matthew D. Walter. Following approval by the competition authorities, the acquisition has now been completed. The acquisition price is USD 903 m. For the 12-month period ending in December 2017, sales amounted to USD 555 m. and the EBITDA margin was approximately 12 percent. Since 2012, annual organic sales growth has averaged 6 percent. Patricia Industries has