Future growth at AddLife is expected to be achieved in part through corporate acquisitions, which is an important component of AddLife’s business model. We are constantly looking for interesting companies to acquire and further develop in the long term. AddLife is an active owner and an attractive alternative for those who want to sell their companies.
We are constantly searching for interesting new companies that can strengthen our existing operations in our business areas. New companies provide a presence in new markets, complement product and service offerings and, perhaps most importantly, add talented employees with a strong understanding of how to do business in their area of operation. Over the years AddLife has acquired many companies and we have developed a clear, successful process for integration and development of acquired companies. We supply financial stability, resources and tools that make it easier and more efficient to run and develop the business.
We are looking for profitable companies with growth potential, a high level of knowledge and technological content, and well-developed supplier relationships or strong brands in selected niches. The companies usually continue to be run under their own brands, but are integrated into AddLife’s corporate culture and financial governance model. AddLife further develops the companies through active ownership to promote sustainable growth. Our corporate culture grounded in values-governed leadership with extensive freedom, a high degree of self-determination and personal responsibility. Within the Group we actively work with various collaborations and networks that provide opportunities to share experiences between the companies. Our business school, AddLife Academy, offers all employees various types of skills development.
Acquisitions during the year
In 2020 AddLife conducted six strategic acquisitions, which are expected to add a total of about SEK 650 million to annual sales, as well as 197 employees.
In November 2019, AddLife signed an agreement to acquire the Italian company Euroclone S.p.A., which will be included in the Labtech business area. Euroclone markets and sells a broad portfolio of both market-leading brands and proprietary brands in the field of cell and molecular biology. Euroclone has distribution rights in Italy for some of AddLife’s current suppliers in the Nordic countries, which further strengthens AddLife’s position on the European market. The company also has a small operation in niche products in the Medtech business area. The company’s end customers are the foremost hospital laboratories, research centers, private clinics and industrial centers in Italy. The company has 58 employees and sales of about SEK 280 million. The acquisition was completed in January 2020.
In September AddLife acquired the Australian company TechniPro PulmoMed Pty Limited. Technipro PulmoMed primarily markets and sells products from a leading provider of products for care of patients with chronic pulmonary disease such as nebulisers and breathing aids. AddLife already serves as distributor for this agent in the Nordic market. The company, which has sales of SEK 13 million and 5 employees, will be integrated with Mediplast Australia Pty Ltd in 2021.
The Danish company Ropox A/S was acquired on 1 October. The company develops, designs and produces customised kitchens, bathroom fittings and aids for the elderly and people with special needs. The products have a reputation for high quality, flexibility and innovative design. Sales are handled by company personnel in Denmark and England, while distributors handle sales to the rest of the Nordic and European markets. The acquisition facilitates entry into the home care segment in Denmark and provides an excellent addition to the company’s existing Nordic operations relating to home care in the Medtech business area. Ropox has 73 employees and sales of about SEK 95 million.
DACH Medical Group
In October, AddLife acquired DACH Medical Group Holding AG, a group with operations in Austria, Switzerland and Germany within the advanced surgery product area. DACH markets and sells both own brands and products from leading suppliers in advanced surgery such as laparoscopy, endoscopy, urology, thoracic medicine and gynaecology. The products are sold to customers in both public and privately funded care. The company is a good complement to existing operations in advanced surgery at AddLife. DACH, which conducts business with its own sales force in all three countries, has 23 employees and sales of about SEK 145 million.
Zafe Care Systems
In October, the Swedish company Zafe Care Systems AB was acquired. Zafe Care Systems implements welfare technology in housing for elderly care and ordinary accommodation for the elderly, as well as in LSS group housing for people with disabilities and assistive device centres. Welfare technology contributes to increased security and quality of life for the individual while improving and streamlining efforts in health care and social care. The company, which is a well-established provider of welfare technology to more than 200 of Sweden’s municipalities, has 21 employees and sales of about SEK 35 million.
In September AddLife signed an agreement to acquire the Italian company SIAD Healthcare s.p.a. and the deal was closed on 1 December. SIAD Healthcare s.p.a. markets and sells products from leading suppliers in advanced surgery, such as neurosurgery, spinal surgery, plastic surgery, and interventional neuroradiology, as well as products for advanced wound care. The business has 17 employees and sales of about SEK 80 million.
In conjunction with the acquisition, the business was transferred to a newly formed company called Biomedica Italia s.r.l.
|Acquisitions||Country||Date of acquisition||Net sales, SEKm||Number of employees||Business area|
|TechniPro PulmoMed Pty Ltd||Australia||September||13||5||Medtech|
|Dach Medical Group Holding AG||Austria||October||145||23||Medtech|
|Zafe Care Systems AB||Sweden||October||35||21||Medtech|
|Biomedica Italia s.r.l||Italy||December||80||17||Medtech|