Administration Report

Acquisitions

AddLife is constantly looking for companies to acquire and is engaged in discussions with several potential companies. This financial year, five acquisitions were made. The year’s acquisitions were in both the Labtech and Medtech business areas.

AddLife philosophy for acquisitions:

• The subsidiaries can make smaller add-on acquisitions to strengthen operations within their niche

• The business areas can expand and build market and/or product positions in selected market segments 
• The business areas can add new market segments in areas where we see opportunities to gain market leadership

The following acquisitions were completed during the year:

• On December 20, 2021, an agreement was signed to acquire the business from Telia Health Monitoring to the Medtech business area. Telia Health Monitoring develops and delivers a digital platform solution that enables self-monitoring for patients with chronic diseases. The closing took place on March 1, 2022 and the business, which has a turnover of approximately SEK 4 million, and its eight employees have been integrated into Camanio AB. 

• On December 22, 2021, an agreement was signed to acquire all shares in MBA Incorporado S.L, a leading player in orthopedic and emergency surgery with operations in Spain, Portugal and Italy. The acquisition was completed and the shares were taken over on January 20, 2022. MBA, which has a turnover of approximately SEK 670 million and has 285 employees, is run as a separate platform and is part of the Medtech business area.  

• On 1 April 2022, AddLife acquired all shares in the Irish company O'Flynn Medical Ltd. O'Flynn is an independent specialist distributor offering sales and rental of products as well as technical services to the hospital sector, private customers and nursing homes in Ireland. The company becomes part of Healthcare 21, which AddLife acquired for the Medtech business area in 2021. O'Flynn has sales of approximately EUR 6.4 million and 36 employees.

• On 1 April 2022, AddLife acquired all shares in the German company BioCat GmbH for the Labtech business area. BioCat is a specialized distributor of products and services for research in Life Science and has a turnover of approximately EUR 9 million and 20 employees. The company is established in Germany but also has sales in Austria and Switzerland. 

• On July 1, 2022, AddLife acquired all shares in the company JK Lab Nordic AB to the Labtech business area. JK Lab is a specialized distributor of instruments and services in material testing and has a turnover of approximately SEK 24 million and has 6 employees. The company has been integrated into Bergman Labora. 

The total purchase price for this year's five acquisitions is SEK 996 million. The effect of the acquisitions completed during the financial year on the AddLife group's net sales was SEK 952m, on EBITA SEK 162m, on operating profit SEK 114m and on profit after tax for the interim period SEK 62m. Had the acquistions, been completed on January 1, 2022, their impact would have been aproximately SEK 1,011m on net sales, on EBITA SEK 174m and on operating profit SEK 122m and SEK 60m on profit after tax. During the year a total of 355 (896) employees joined AddLife through acquisitions.