Addvise Lab Solutions AB has entered into an agreement to acquire Surgical Tables Inc for SEK 18.2 million.
The agreement is planned to be effective November 1, 2014. Approximately SEK 5,5 million will be paid in cash at closing and approximately SEK 5,5 million is paid in newly issued shares or in cash at closing. Also, approximately SEK 7,2 million in additional purchase price in the event that targets are met.
The acquisition of Surgical Tables is another step in the growth strategy adopted by the Board in Addvise in early 2010, states the company in a press release. With the acquisition completed, Addvise’s offer of equipment in the healthcare segment is expanded.
– This acquisition is strategically important for Addvise as it will provide potential for a faster company growth. The know how in the group will be increased and it will strengthen Addvise’s position in the important US healthcare market. The companies’ businesses complement each other well, which will create both revenue and cost synergies, says Rikard Akhtarzand, CEO of Addvise.
Surgical Tables is an American company that manufactures and sells surgical tables to the medical care sector. The company is active across large parts of the world and is one of the leading companies in the industry.