During 2025, the positive earnings trend in our companies continued, in line with the priorities we have established. We have achieved and exceeded our ambition to reduce debt and strengthen the balance sheet. Our companies stand stable and strong thanks to professional and committed employees and long-term, trust-based relationships with customers and partners.
From this position, we can once again develop our proven business model to its full potential.
We improve
people’s lives
ANNUAL REPORT 2025
10442
NET SALES, SEKm
1417
EBITA, SEKm
13.6
%
EBITA MARGIN
62
%
P/WC
Strong earnings development in our subsidiaries
The year in brief
In 2025, the companies within AddLife continued to develop positively, with improved profitability and stronger cash flows. The demand for healthcare is constantly increasing, while new technologies in diagnostics and research enable earlier and more patient-specific diagnostics. During the year, AddLife’s companies have met this need with advanced products, digital solutions, and strong, trusted local service organisations that ensure that new technologies and methods work in customers’ operations.
In 2025, three acquisitions were completed that strengthen AddLife’s position in selected markets and within prioritised segments. The company is thus entering 2026 with improved profitability, a stronger financial position, and a clear plan to combine organic growth with increased, acquisition-driven expansion.
Target fulfilment 2025
EARNINGS GROWTH
PROFITABILITY
DIVIDEND
A leading partner in Life Science
AddLife is a leading independent European partner in Life Science. AddLife owns, develops and acquires companies primarily in the healthcare sector, from research to medical care.
AddLife has a well-established customer- and patient-focused culture with strong values, where sustainability is an integrated part of the business.
30
COUNTRIES
2300
EMPLOYEES
54000
CUSTOMERS
3500
SUPPLIERS
Decentralised business model
AddLife develops and acquires profitable, market-leading companies in selected niches within Life Science. At AddLife, the combined resources, networks and expertise of a large company are complemented with the flexibility, personality and efficiency of an entrepreneur. With a proven decentralised business model, we focus on achieving long-term profitable growth and sustainable development.
Strong position in a changing, growing Life Science market
AddLife is a leading partner in Life Science with a strong presence in large parts of Europe. With a decentralised business model focused on fast‑growing and profitable niches and a strong focus on customer proximity and value‑creating offerings, AddLife’s companies can adapt to and capitalise on prevailing market trends.
Achieving long-term growth
AddLife’s strategy is based on market‑leading positions, operational agility and growth through acquisitions, and builds on the Group’s business model, culture and values.
With the vision of improving people’s lives by being a leading value‑creating partner in Life Science, AddLife has developed a strategic platform that reflects both the proven business model and the company’s values.
Core values and culture
AddLife’s most important resource is its employees, and the ambition is to offer everyone good opportunities for development. Through AddLife Academy, AddLife provides structured competence development and builds a shared corporate culture. AddLife Academy is central to AddLife’s success and helps ensure a clear focus on AddLife’s financial targets.
Business areas
Labtech
The Labtech business area offers products, solutions and services in, among other things, diagnostics, biomedical research and laboratory analysis. The business area consists of two business units, Biomedical & Research and Diagnostics. The most important customer groups are hospital laboratories, academic research and pharmaceutical companies, mainly in the Nordic region and, to an increasing extent, the rest of Europe.
Medtech
Within the Medtech business area, the subsidiaries offer products and services in medical technology, as well as assistive devices and digital solutions for home care. The offering is primarily aimed at publicly funded healthcare, home care and social care in Europe, with strong positions in markets such as the UK, Ireland, the Nordic region and Spain.
Acquisitions drives long-term and profitable growth
Acquisitions are an important part of AddLife’s growth strategy and we have a well‑established and structured process to identify, acquire, integrate and develop companies. In 2025 AddLife completed three acquisitions. The acquisitions strengthen the Group’s position in prioritised growth segments and geographies and are in line with AddLife’s acquisition strategy.
Edge Medical
Pharmacold
Opitek
Edge Medical
Edge Medical is a leading UK distributor within orthopaedic surgery, spinal surgery and neurology, with operations in England and Ireland. The company has a strong market position and a high margin profile. Edge Medical will be part of the Medtech business area.
- Acquisition date: 1 April 2025
- Net sales: approximately SEK 90 million
- Number of employees: 20
Pharmacold
Pharmacold is a Danish company specialised in cooling technology and service for the pharmaceutical and healthcare sectors. The company offers unique, customer‑specific solutions that ensure correct temperature control and operational reliability in critical environments. Pharmacold will be part of the Labtech business area.
- Acquisition date: 1 December 2025
- Net sales: approximately SEK 38 million
- Number of employees: 20
Opitek
Opitek is a Danish company that manufactures specialised solutions for patient positioning. The company has a niche product portfolio with a strong medical technology profile and complements AddLife’s existing offering in surgery. Opitek will be part of the Medtech business area.
- Acquisition date: 1 December 2025
- Net sales: approximately SEK 12 million
- Number of employees: 2
AddLife's sustainability strategy
AddLife’s sustainability report describes the business operations and value chain from a sustainability perspective. The sustainability strategy mirrors our key sustainability issues: our positive contribution to the Life Science sector, the well-being and development of our employees, and our work with supply chain management.
AddLife creates value
AddLife aims to create good earnings and a strong shareholder value through independent subsidiaries, active ownership and acquisitions. AddLife's financial targets contribute to a robust cash flow that facilitates self-financed, long-term and profitable growth.
Four reasons to own shares in AddLife
Attractive growth market
Cash flow finances growth
Clear strategy
Market position
Attractive non-cyclical growth market
AddLife predicts that the medtech market has an average annual growth rate of 5 percent and the diagnostics market 2–3 percent. Many of the niches that AddLife has prioritised are growing even faster. The market is relatively insensitive to cyclical fluctuations and is driven by demographic factors, an ageing population and the increasing prevalence of chronic diseases. The demographic factors, together with technological development, an increased demand for preventive and personalised medicine and an increased focus on time-saving processes, are increasing the demand for AddLife’s products in healthcare, Homecare, diagnostics and research.
Cash flow finances growth
In recent years, the Company’s ambition has been to reduce net debt supported by its own cash flow. In 2025, AddLife has achieved and exceeded this ambition and can therefore going forward allocate the majority of its cash flow to organic and acquisition-driven growth. The Company’s acquisition agenda is based on financing acquisitions through its own cash flows. AddLife strives for profitable organic growth and has a high proportion of recurring sales and long-term contracts that generate stable cash flows. With a focus on working capital and profitability, the Company thereby generates strong and stable cash flows over time that can finance growth.
Clear strategy to create growth
A key element of AddLife's growth strategy is acquisitions, with a focus on small and mid-sized bolt-on acquisitions or standalone acquisitions with attractive margins. The company has extensive experience in acquisitions, with an established process for identifying target companies and executing successful transactions. The goal is for the acquired subsidiaries to continue to develop based on their strengths, with the foundation of a decentralised business model, and with the support of an active owner with extensive experience of the Life Science market. Company-specific targets are set for the independent subsidiaries, which are linked to the Group's financial targets.
Strong market position in Europe
AddLife’s business model is based on AddLife, through its subsidiaries, creating value and building leading market positions in selected market niches in Europe. The Group has a broad geographical presence with operations in 30 countries, where AddLife’s subsidiaries have well-established sales organisations with high technical expertise which, in combination with the differentiated product and service portfolio, create strong long-term customer relationships and the conditions for good business.