Abilia acquires portfolio of alarm products from Emfit
Abilia AB, a company in the MedCap (publ) Group, has signed an agreement to acquire the product rights to a portfolio of established seizure and occupancy alarms from the Finnish company Emfit Ltd. The transaction has a large strategic value for Abilia as it establishes the company as a leading product provider in the epilepsy alarm market.
Abilia has during a number of years sold Emfit’s seizure and bed/floor occupancy alarm products. The cooperation has been successful and Abilia is today a leading distributor of Emfit’s alarm products. In addition to the product rights, Abilia has received 10 years exclusivity to the sensor technology within the relevant applications with the exception of the North American market. The transaction creates excellent opportunities to continue to develop the business together with Emfit, its distributors and customers. Emfit will remain a sub supplier of the unique sensor technology to Abilia.
Based on current volumes, the products are expected to generate approximately 10 MSEK of annual revenue with a marginal positive impact on operating profit during the current fiscal year. Abilia will pay one part of the purchase amount in cash at closing and additional amounts may be due in the next 24 months based on sales and gross profit development. The acquisition is financed by Abilia’s existing cash and available credits. The transaction was signed on 27 January 2017 and is expected to close at the end of February 2017.
“We have during several years very successfully developed a partnership with Emfit around these products and Abilia sees significant potential for continued strong development in the relevant markets. The acquisition of the Emfit product portfolio means that Abilia establishes itself as a leading provider within a highly interesting niche market for epilepsy and seizure alarms. Emfit’s products are today part of our offering and through the transaction we get an opportunity to continue to develop the business together with other distributors and customers around the world.”, says Tove Christiansson CEO Abilia AB
”We are glad to enter this agreement with our long term partner and distributor, Abilia. This transaction ensures continued and even improved availability of these greatly needed epilepsy alarm products on the market.”, says Heikki Räisänen, CEO and Co-founder at Emfit Ltd
For more information, contact:
Karl Tobieson, CEO
Telefon +46 8 34 71 10, mobil +46 709 35 85 74,
e-post karl.tobieson@medcap.se
Johan Hähnel, IR Contact
Mobil +46 70 605 63 34
About MedCap:
MedCap builds successful life sciences companies to improve people's lives. MedCap unites the strengths of a larger the company with the smaller companies' entrepreneurial power, agility, and business acumen. MedCap is publicly listed on NASDAQ Stockholm OMX, with the symbol MCAP. More information is available on the company web site www.medcap.se.