AddLife signs agreement with Wellspect HealthCare on acquisition of business in surgery and respiration

The Life Science group AddLife signed an agreement today with Wellspect HealthCare on the acquisition of its business in the product areas surgery and respiration. Under the agreement, AddLife is acquiring a number of market-leading niche products with associated rights and customer agreements in several geographic markets. The business has sales of about EUR 17 million, with eight markets in Europe and Australia accounting for more than 90 percent of sales. The acquisition is expected to be completed during the first quarter of 2019.

AddLife is continuing its growth by acquiring market-leading niche products in the areas of surgery and respiration, including the brands Bellovac, Medena and KilRoid. The part of the business that AddLife is now acquiring was originally part of Astra Tech. The business will primarily be integrated into AddLife’s subsidiaries Mediplast and Biomedica during the first quarter of 2019. The total purchase consideration for the business, which primarily includes product rights, inventories and existing customer and supplier contracts, is EUR 18 million.  

- “We continue to pursue our growth strategy – acquiring market-leading niche companies and businesses, along with our international expansion. We are now expanding our offering of our own brands which complement our subsidiaries’ existing range of products in surgery and respiration products. Together, our two most recently announced acquisitions add over SEK 800 million in annual sales and we have substantially expanded our market presence in selected niches,” says Kristina Willgård, CEO of AddLife AB.

- “We are extremely pleased that in the future, ownership of our product range in surgery and respiration will pass to such well-established companies as Mediplast and Biomedica, which to a much greater degree than we do have the necessary focus and expertise to optimally develop the business,” says Svenn Poulsen, Group Vice President, Wellspect HealthCare.

The agreement for the acquisition of the business in Wellspect Healthcare is taking place less than one month after the acquisition of the Austrian company Biomedica, which has sales of about EUR 65 million and engages in business in 13 markets in Central and Eastern Europe. The deal enables AddLife to make additional inroads into new geographic markets, primarily Australia, which accounts for about 30 percent of sales in the acquired business operations.

Stockholm, 19 December 2018
AddLife AB (publ)

For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46-705 10 12 23
Lars-Erik Rydell, Business Area 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. AddLife has about 600 employees in some 30 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 2.5 billion. AddLife shares are listed on NASDAQ Stockholm.

This information is information that AddLife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 19 December 2018 at 7:30 p.m. (CET).