We improve
people’s lives

ANNUAL REPORT 2024
10286

NET SALES, SEKm

1159

EBITA, SEKm

11.3
%

EBITA MARGIN

51
%

P/WC

Significant improvements in all prioritised areas

The companies within AddLife have done a fantastic job over the past year, achieving significant improvements in all priority areas. A focused effort to improve margins has yielded clear results. Our organic growth exceeds market growth, confirming our leading positions in rapidly growing market niches, our continuous development of the product portfolio, and our ability to gain market share.

The year in brief

In 2024, the companies within AddLife focused on further strengthening their support for customers and patients while continuously developing their product portfolio to meet current and future needs.

The strong growth demonstrates that our companies are well-positioned to expand market niches, that the customer offering is constantly evolving, and that customer relationships remain strong. In line with AddLife’s business model, the companies continuously work with cost control and efficiency improvements, which have resulted in enhanced profitability, increased cash flow and reduced debt. This development enables a gradual increase in acquisition activities, a process that began in Q3 2024 with the acquisition of BonsaiLab.

Target fulfilment 2024

EARNINGS GROWTH

PROFITABILITY

DIVIDEND

A leading partner in Life Science

AddLife is a leading independent European partner with a diversified portfolio in Life Science. AddLife owns, develops, and acquires companies primarily in the fields of healthcare, from research to medical care. The Group has a well established, entrepreneur-driven culture with strong values, where sustainability is integrated into 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. AddLife acts as a long-term and active owner, with a focus on business development and improved profitability.

A leading partner in life sciences with a strong presence across Europe

AddLife is a leading partner in life sciences with a strong presence across Europe. With a decentralized business model focused on fast-growing and profitable niches, as well as a strong emphasis on customer proximity and value-driven offerings, AddLife's companies can effectively adapt to and capitalize on prevailing market trends.

Sustainable growth

AddLife’s vision is to improve people's lives by being a leading, value-adding partner in Life Science. Our strategy relies on achieving market leadership, operational agility and acquisitions, all rooted in the Group's business model, culture and values. AddLife has defined six strategic initiatives based on the Group's competitive advantages, scale and market presence.

 

 

Core values and culture

Our committed employees are the key to our success. We aim for an inclusive environment for our talented and dedicated people. We place significant emphasis on working with our core values and corporate culture as well as supporting our employees' development through our business school, AddLife Academy.

Business areas

Labtech

The Labtech business area provides products, solutions and services in fields such as diagnostics, biomedical research and laboratory analysis. The business area consists of two business units: Biomedical and Research and Diagnostics. The most important customer groups are hospital laboratories, academic research and pharmaceutical companies, mainly in the Nordic region and increasingly in the rest of Europe.

LABTECH

Medtech

In the Medtech business area, the subsidiaries offer products and services in the field of medical technology, as well as assistive equipment and digital solutions for home care. Medtech has two business units, Hospital and Homecare. The Medtech offering mainly focuses on publicly funded healthcare, home care and social care in Europe.

MEDTECH

Acquisitions

Acquisitions are a key aspect of AddLife's growth strategy and we have a well-established and structured process for identifying, acquiring, integrating and developing companies.

During the year, AddLife acquired the company BonsaiLab, adding it to the Labtech business area. BonsaiLab is a leading Spanish distributor in cell and molecular biology, offering a product portfolio of market-leading instruments and consumables. The company has an annual turnover of approximately 90 MSEK and 13 employees.

AddLife and sustainability

AddLife's
sustainability
strategy
Sustainable solutions
for health
Sustainable culture
Sustainable supply chain

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.

Sustainability

Sustainable solutions for health

AddLife creates competitive advantages by offering high-quality products and value-creating services, combined with environmentally smart solutions. This is a unique opportunity to support a sustainable transition together with the Group’s partners and develop solutions that can also positively impact business operations. 

Sustainable culture

AddLife’s employees' engagement is key to the Group’s success. AddLife strives to create an inclusive organization for its talented and engaged colleagues, characterized by diversity. To achieve this, the Group focuses on issues related to corporate culture, employee satisfaction, diversity, and inclusion.

Sustainable supply chain

AddLife is committed to environmental and social issues throughout the supply chain. This work involves evaluating, communicating with, and influencing AddLife’s suppliers, as well as identifying new market-leading alternatives. AddLife’s role in the value chain provides the Group with an opportunity to develop solutions together with its partners to take responsibility for the Group’s overall impact.

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

The market, in which AddLife operates, is relatively insensitive to cyclical fluctuations and is driven by demographic factors, an ageing population and the increasing prevalence of chronic diseases. On average, the medtech market is expected to achieve an annual growth rate of 5 percent and the diagnostics market 2-3 percent.

AddLife Share

Cash flow finances growth

AddLife strives for profitable organic growth and has a high proportion of recurring sales and long-term contracts that generate stable cash flows. The company bases its acquisition agenda on financing acquisitions through its own cash flow.

Clear strategy to create additional 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 goal is for the acquired subsidiaries to continue to develop based on their strengths, based in a decentralised business model.

Strong market position in Europe

AddLife’s more than 85 subsidiaries create value and build leading positions in selected niches in Europe. The company has a wide geographic spread, operating in 30 countries with 2,300 employees.