AddLife acquires O’Flynn Medical as add-on to Healthcare 21
AddLife has today acquired the Irish company O’Flynn Medical Ltd (“O’Flynn”). O’Flynn Medical is an independent distributor offering product sales, rental and technical services to the hospital sector, private customers and nursing homes in Ireland. The company will become part of the Healthcare 21 Group, which AddLife acquired to the business area Medtech in 2021.
O’Flynn Medical is an Irish company with annual net sales of approximately EUR 6.4 million and 36 employees. The company offers medical equipment and consumables in addition to rental, decontamination and technical service for specialized products like mattresses and beds.
O’Flynn Medical is a great strategic fit for Healthcare 21, with a strong market position, it provides interesting opportunities to expand Healthcare 21’s portfolio into the rental market segment and become the leading provider in Ireland. The acquisition also provides an entry for Healthcare 21 into the bariatric market segment.
“Today is an exciting day for Healthcare 21 and the AddLife Group. O’Flynn Medical are an experienced specialist provider with a complimentary portfolio that will strengthen our offering by extending into the rental market segment. It is a perfect strategic and cultural fit“, says Tara Kearney, CEO of Healthcare 21.
“The acquisition of O’Flynn Medical means that we are strengthening our presence in the Irish and UK market where we already have major expertise and market presence. O’Flynn Medical will form a bolt-on acquisition to Healthcare 21 to complement existing product portfolios whilst also entering into new market segments”, says Kristina Willgård, CEO AddLife AB
The transaction closed today and is expected to have only a marginal positive effect on AddLife’s earnings per share in the 2022 financial year.
Stockholm 1 April 2022
AddLife AB (publ)
For additional information, please contact:
Kristina Willgård, CEO, AddLife AB, +46 705 10 12 23
Martin Almgren, Business Area Manager Medtech and CFO AddLife AB, +46 70 228 15 45
AddLife is an independent European player in Life Science that offers high-quality products, services and consulting to both the private and public sectors. AddLife has about 2,200 employees in around 80 operating subsidiaries, which operate under their own brands. The Group has annual sales of approximately SEK 8 billion. AddLife is listed on the NASDAQ Stockholm stock exchange
This information was issued for publication on 1 April 2022 at 12:30 CET.