Indutrade acquires Czech Med-Tech company Cheirón
Indutrade has on 1 October signed an agreement to acquire all of the shares in the Czech company Cheirón a.s., https://www.cheiron.eu/en/ , with annual sales of approximately CZK 300 million (SEK 120 million).
Cheirón is a technical trading company of medical technology products, specialising primarily in equipment used for healthcare applications in surgery rooms, intensive care wards, emergency wards, and cardio units. Providing value added solutions and service to their hospital customers’ specific needs, the product offering includes monitoring equipment, respirators, defibrillators, anaesthesiology equipment, as well as a wide range of single-use items. The offering is complemented by service and training and customers are mainly Czech hospitals. Cheirón also produces its own product line of suction devices which they sell through a broad network of international distributors.
The closing takes place today, and Cheirón will be included in Indutrade's Business Area Industrial Components. Cheirón’s business resembles to Indutrade’s company Biameditek in Poland, having similar offerings and sharing several core suppliers. The acquisition is part of Indutrade’s strategy to strengthen its positions in attractive market segments.
“I am delighted to welcome Cheirón to the Indutrade Group. Cheirón is recognised as a leading supplier to the broad Czech hospital market, having close and long-standing relationships with its core suppliers, and a dedicated service culture towards the customers. It’s a great addition to the Indutrade Med-Tech/healthcare cluster group,” says Joakim Skantze, Senior Vice President of the Business Area Industrial Components.
The acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 1 October 2020
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone: +46 8 703 03 00
Indutrade is an international technology and industrial business group that today consists of more than 200 companies in some 30 countries, mainly in Europe. In a decentralised way, we aim to provide sustainable profitable growth by developing and acquiring successful companies managed by passionate entrepreneurs. Our companies develop, manufacture, and sell components, systems and services with significant technical content in selected niches. Our value-based culture, where people make the difference, has been the foundation of our success since the start in 1978. Indutrade's net sales totalled SEK 18.4 billion in 2019, and the share is listed on Nasdaq Stockholm in Sweden.