Companies in the Medtech business provides medical device products within the medtech market and assistive equipment within home healthcare.
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|MSEK||31 Mar 22||31 Mar 21||change||31 Mar 22||31 Dec 21|
For the quarter, Medtech’s net sales increased by 154 percent to SEK 1,301m (512), of which organic growth, excluding COVID-19 related sales, amounted to 1 percent and acquired growth was 166 percent. Exchange rate fluctuations had a positive impact of 3 percent on net sales. Net sales related to COVID-19 accounted for SEK 0m (80). EBITA increased by 190 percent to SEK 144m (50) and EBITA margin amounted to 11.1 percent (9.7).
Dynamisk graf: Net sales per market 2022
Sales in the Nordic markets amounted to 25 percent of net sales in the first quarter 2022, compared to 32 percent last year (full year 2021). The shift from mainly the Nordic countries to an increasing share of sales in Europe is due to the major acquisitions made in the business area during 2021-2022.
The strong sales and EBITA growth in the Medtech business area is driven by the acquisitions made over the past year. All acquisitions have performed well and in line with our expectations. The business situation for our largest acquisitions from 2021, Healthcare 21 and AddVision, has been relatively unchanged compared with last year because of continued reduced levels of elective surgery. AddVision also started up operations in Sweden through its own company in the quarter.
The market situation has been highly volatile during the quarter, entirely due to the evolution of the pandemic. High infection rates among health workers have led to fewer surgical procedures as queues for surgery continue to grow. Overall, the number of planned procedures in the quarter has been at a lower level than before the pandemic, but with a clear increase in the month of March. Several initiatives are underway in all countries from both political and private sources to increase healthcare capacity and reduce healthcare debt.
In the new procurements from the Nordic countries, the trend is clear that the focus on sustainability is growing. In Norway, for example, the new "Åpenhetsloven" (Transparency Act) has led to an increased focus on ethical business and traceability of materials in procurement.
For home care companies, the market situation was also volatile, but as case rates slowed towards the end of the quarter, society finally reopened for customer visits and product trials. We continue to see strong market demand for both our digital solutions and other assistive technology. In the quarter, the newly acquired Camanio both integrated the operations of Telia Health Monitoring and installed an interesting digital pilot project in a Swedish municipality.
Dynamisk graf: Net sales (SEKm)
Dynamisk graf: EBITA (SEKm)