BUSINESS AREA
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.
| Q1 | Q1 | ∆ | Apr 2025- | Full year | |
| SEKm | 2026 | 2025 | % | Mar 2026 | 2025 |
| Net sales | 1,661 | 1,714 | -3 | 6,442 | 6,495 |
| Organic growth, % | -1 | 0 | 2 | ||
| EBITA | 212 | 231 | -8 | 945 | 964 |
| EBITA margin, % | 12.8 | 13.5 | 14.7 | 14.8 | |
| Adjusted EBITA | 212 | 231 | -8 | 787 | 805 |
| Adjusted EBITA margin, % | 12.8 | 13.5 | 12.2 | 12.4 |
FIRST QUARTER
Net sales in Medtech amounted to SEK 1,661 million (1,714). Adjusted for exchange rate effects, net sales increased by 1 percent, of which organic growth was -1 percent and acquired growth was 2 percent. Organic growth was adversely affected by SEK 63 million due to the divestment of the endoscopy business in the United Kingdom in December 2025. Adjusted for this, organic growth amounted to 3 percent. Exchange rate effects had a negative impact of 5 percent on net sales.
EBITA decreased by 8 percent to SEK 212 million (231), corresponding to an EBITA margin of 12.8 percent (13.5). Exchange rate effects had a negative impact of 5 percent on EBITA, corresponding to SEK 10 million.
Margins in Medtech were strong during the quarter, higher than in the previous quarter but slightly lower than the high level in the first quarter of 2025.
Underlying demand is developing well, which is partly obscured by the divested endoscopy business in the United Kingdom and by doctors’ strikes in Spain.
In the United Kingdom, the sales trend was positive. The divested endoscopy business amounted to SEK 63 million in the first quarter of 2025 and, adjusted for this, sales growth was clearly positive in the quarter. Waiting lists in the United Kingdom decreased somewhat during the quarter, and there are indications that these are the first signs that the previously communicated efficiency measures and increased activity within the NHS are beginning to yield results. This is a positive signal for the advanced and efficiency‑enhancing products provided by AddLife’s companies. Sales of capital goods also developed positively in the United Kingdom during the quarter.
Organic sales development in Spain was positive during the quarter, but was held back by doctors’ strikes, which reduced the number of operations performed in February and March.
The focused efforts to improve margins in selected companies are continuing and show a clearly positive trend. Work to increase the share of advanced products is making progress, and new products are contributing to both growth and margin improvements.