AddLife signs agreement with Italian SIAD Healthcare s.p.a. on the acquisition of advanced surgery business
AddLife signed an agreement with SIAD Healthcare s.p.a. today on the acquisition of their business in the product area of advanced surgery. The business has sales of approximately EUR 8 million on the Italian market in a segment in which AddLife is already an established supplier on the Nordic and central-European markets.
SIAD Healthcare s.p.a. markets and sells products from leading suppliers in advanced surgery, such as neurosurgery, spinal surgery, plastic surgery, interventional radiology, as well as products for advanced wound care. In conjunction with the acquisition, the business will be transferred to a newly formed company, which AddLife is acquiring.
The headquarters are in Assago (Milan) and sales are via own sales resources as well as through regional agents. The products are sold primarily to customers in public and privately funded care. The business has 17 employees and annual sales of approximately EUR 8 million on the Italian market.
“With this acquisition, we are strengthening our presence in Italy in an interesting market area, where we already have significant expertise in several markets,” says Lars-Erik Rydell, Business Development Manager, Medtech, AddLife AB.
“With this agreement, Siad has established an important partnership with a major Life Science player, who will be better positioned to boost our Surgical Business and will allow us to better focus our healthcare activities on the core business” says Bernardo Sestini, President of SIAD Healthcare.
Possession is subject to a review and decision on foreign direct investments by Italian authorities. A decision is expected within 45 days of announcing the transaction.
The acquisition is expected to have only a marginally positive effect on AddLife’s earnings per share in the 2020 financial year.
Stockholm 18 September 2020
AddLife AB (publ.)
For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46 705 10 12 23
Lars-Erik Rydell, Business Development Manager, 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 and the rest of Europe. AddLife has about 1,000 employees in some 45 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 4.1 billion. AddLife shares are listed on NASDAQ Stockholm.
This information was issued for publication on 18 September 2020 at 19.40 p.m. CET.