Indutrade acquires Swedish drug test provider Prodiagnostics

Indutrade has signed an agreement to acquire all shares in the Swedish medical technology company Pro Diagnostics Scandinavia AB, www.prodiagnostics.se, with annual sales of approximately SEK 50 million.

Prodiagnostics is a Swedish provider of a wide range of instant drug tests and laboratory drug tests. Since 2012, the company has provided the Swedish market with tests that are market leading in terms of sensitivity and traceability.

Prodiagnostics has two business areas: Professional use and Workplace testing. The customer groups within Professional use include providers of healthcare, such as regional councils, municipalities and private healthcare actors, as well as law enforcement and customs. Within Workplace testing, the customers are private companies using tests on their employees. Prodiagnostics is based in Vellinge, Sweden and has 11 employees.

The acquisition strengthens Indutrades cluster of medical technology companies and Prodiagnostics, with a unique product portfolio and good expansion opportunities, has a strong foundation for further growth.

The closing takes place today and Prodiagnostics will be included in Indutrade's Business Area Industrial Components. The acquisition is Indutrade's sixth in 2022 and is expected to have a marginally positive impact on Indutrade's earnings per share.

Stockholm, 31 May 2022

INDUTRADE AB (publ)

For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00

About Indutrade
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 21.7 billion in 2021, and the share is listed on Nasdaq Stockholm in Sweden.