Apotek Hjärtat to divest its care and nursing business to ApoEx
Apotek Hjärtat, a wholly owned subsidiary of ICA Gruppen, has signed an agreement with ApoEx to sell its care and nursing business (Vård och omsorg) for SEK 62 milllion on a debt-free basis. The purchase sum after transaction-related costs is in line with the book value.
Vård och omsorg is a business area of Apotek Hjärtat that provides pharmaceuticals and related services to the healthcare sector in several regions and county councils as well as to a number of private healthcare providers. The business area currently has agreements with eight of the 21 county councils/regions in Sweden. The business area also includes Apovet, with a strong position in the Swedish market for veterinary medicines.
The buyer, ApoEx, is Sweden’s largest privately owned supplier of pharmaceuticals to the healthcare sector and is active in the same areas.
“As part of ICA Gruppen, it is logical for Apotek Hjärtat to refine its pharmacy business towards the outpatient care market. By the same token, I am convinced that ApoEx will be a focused owner that continues to develop the business in the right direction,” comments Anders Nyberg, CEO of Apotek Hjärtat.
Apotek Hjärtat’s Vård och omsorg business area had sales of approximately SEK 830 million in 2014. The divestment is expected to have only a marginal effect on Apotek Hjärtat’s operating profit.
The deal is contingent upon approvals from the Competition Authority and the Medical Products Agency, and is expected to be completed during the fourth quarter of 2015.
For more information
ICA Gruppen press service, telephone number: +46 10 422 52 52
ICA Gruppen AB discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 07.45 CET on Thursday, 2nd July 2015.
ICA Gruppen AB (publ) is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic, which mainly conduct grocery retail, ICA Real Estate, which owns and manages properties, ICA Bank, which offers financial services, and Apotek Hjärtat, which conducts pharmacy operations. The Group also includes the wholly owned portfolio company inkClub and the partly owned portfolio company Hemtex. For more information see icagruppen.se.
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