AddLife acquires Krabat AS
Today, AddLife signed an agreement to acquire all the shares in the Norwegian company Krabat AS. Krabat develops, designs and markets assistive equipment for children and young people with special needs. The company is run by its founders, who built a successful business with a focus on design, quality and functionality. The acquisition will be a positive addition to the other companies in AddLife’s Medtech business area and an opportunity for Krabat to expand into more geographic markets.
Krabat has successfully established itself as a niche supplier of pediatric assistive devices specially designed to facilitate daily life for children and young people with special needs. The basic premise has been to provide assistive devices that allow children to play, participate and master skills on their own terms. Krabat operates under the motto of “pride in being different”.
“AddLife is constantly looking for interesting niche participants to complement our existing companies. Krabat is a company with a business concept that fits in well with our own vision about improving people's lives by being a leading, value-creating participant in the Life Science field. Krabat’s products are known for their high quality and functional design, features that make it possible to improve the everyday lives of many children with disabilities who live at home,” says Kristina Willgård, CEO, AddLife.
The company currently has 13 employees and sales of NOK 30 million, mainly in the Norwegian market.
The acquisition represents yet another advance into the field of home care, a growth area with a market potential that is constantly expanding in pace with the growing population throughout the Nordic region.
The deal will close on 13 July 2017. The acquisition is expected to have a marginally positive effect on AddLife’s earnings per share during the current financial year.
Stockholm 13 July 2017
AddLife AB (publ.)
For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46 705 10 12 23
Lars-Erik Rydell, business area manager of 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 about 600 employees in some 35 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 2.0 billion. AddLife shares are listed on NASDAQ Stockholm.
This information was submitted for publication on 13 July 2017 at 13:00 CET.