Business Area
Business Area 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.
The Medtech companies combine proprietary products with a broad range from leading international suppliers and complement this with services in the form of training, clinical support, technical service and logistics solutions. The offering ranges from medical single‑use products and assistive devices to advanced systems for surgery, interventional treatment, monitoring, welfare technology and digital solutions for home care. The products require a high level of medical expertise and close dialogue and cooperation with customers to ensure the right selection, safe implementation and strong clinical outcomes. A large share of sales is generated through public tenders and long‑term agreements, which provides a stable core business.
Profitability improvements in 2025
Profitability improvements were a central priority for Medtech in 2025. Through focused efforts in price and product mix optimisation, portfolio shifts towards more advanced, high‑margin products, and efficiency improvements in the organisation and ways of working, the adjusted EBITA margin was strengthened to 12.4 percent (11.6). In several niche areas, programmes were implemented to phase out less profitable products, strengthen cooperation with key suppliers and launch new, more differentiated offerings.
| SEKm | 2025 | 2024 | 2023 |
| Net sales | 6,495 | 6,496 | 6,042 |
| EBITA | 964 | 746 | 684 |
| EBITA margin, % | 14.8 | 11.5 | 11.3 |
| Adjusted EBITA | 805 | 752 | 663 |
| Adjusted EBITA margin, % | 12.4 | 11.6 | 11.0 |
| Number of employees | 1,454 | 1,449 | 1,477 |
| Organic growth | |||
| Total growth, % | 0.0 | 7.5 | 16.0 |
| (-) Currency effect, % | -3.2 | 0.2 | 6.5 |
| (-) Acquired growth, % | 1.0 | – | 0.4 |
| Organic growth, % | 2.2 | 7.3 | 9.1 |
Market development 2025
In 2025, Medtech focused on combining profitability and selective growth. The business area continued to gain market share in prioritised segments such as orthopaedics, spinal surgery, interventional radiology, pain management and welfare technology, while less profitable products were gradually phased out. In several markets, capital investments in healthcare remained restrained and the number of procedures performed was negatively affected by staff shortages and strikes, including in the UK. Despite this, there was solid underlying growth in many of the companies, particularly in the Nordic region, Ireland and Spain, where strong customer relationships, leading service organisations and advanced product portfolios continued to drive strong demand.
In Homecare, demand recovered in 2025 after a period of lower activity levels, including in the construction of new and the refurbishment of adapted housing. Investments in welfare technology and digital solutions began to deliver clear results in the form of healthy growth and gradually improved margins. The long‑term structural drivers – an ageing population, the need for cost‑efficient care pathways and the opportunity to move care and social services closer to the home – continue to support development in this area.
MEDTECH’S STRENGTHS
- Employees with long‑standing medical experience, local market knowledge, a high level of service and strong expertise in the product development of welfare technology
- A broad and competitive range consisting of both proprietary products and products and solutions from leading international manufacturers
- High flexibility to design customer‑specific solutions, combined with specialised expertise in public tenders and framework agreements
- A European distribution and service network for both proprietary products and services, as well as those of other suppliers
- A large accessible market with structural growth and attractive margins, particularly in advanced products and digital solutions
Acquisitions
Medtech was strengthened in 2025 through targeted acquisitions in selected specialist segments. In April, the acquisition of Edge Medical Ltd. in the UK was completed, a leading distributor in orthopaedic surgery, spinal surgery and neurology with operations in England and Ireland. The acquisition strengthens AddLife’s position in advanced surgery, broadens the offering to key customer groups and creates a platform for further expansion in the UK and Irish markets.
In December, Opitek International ApS in Denmark was acquired, a niche manufacturer in patient positioning for surgery. The company complements Medtech’s existing offering in surgical equipment for advanced procedures and provides greater control over the value chain through proprietary, specialised products.
Product segments within Medtech
HOSPITAL
- Surgery
- Orthopaedics
- Consumables
- Critical care
- Endoscopy
- Wound care
- Healthcare IT
- Ophthalmology
HOMECARE
- Home adaptations
- Welfare technology
- Technical aids
MBA and the development of healthcare
MBA SURGICAL EMPOWERMENT focuses on some of the fastest‑growing and most innovative areas within Medtech, such as orthopaedics, trauma, surgery, anaesthesia, pain management, neurosurgery and oncology. Over 37 years on the Iberian market, MBA has built strong relationships with leading manufacturers, enabling long‑term collaborations with both partners and customers. MBA’s main ambition is to give healthcare professionals and patients in Spain and Portugal access to the latest technology, as well as the knowledge required to use it effectively.
Subsidiaries within Medtech
