Bringwell is selling its subsidiary NaturaMed Pharma to Volato for SEK 308 million.
NaturaMed Pharma is a supplier of food supplements, pharmaceuticals and health care and athletic products sold directly to customers.
The payment settlement will be made in cash and will be used to reimburse the company’s debts, meaning that Bringwell will become debt free. Volato will gain access to NaturaMed Pharma in the beginning of June 2014, according to a press release. During the last 12 months until March 31 2014, NaturaMed Pharma has had a turnover of SEK 192 million.
Bringwell was formed in 1994 under the name USP Healthcare. In 2000, Bringwell Group was introduced on First North (former the New Market). In the years that followed Bringwell developped strategies and the company grew through a series of acquisitions and mergers, including the Hela Pharma AB, Green Medicine AB, NaturaMed Pharma AS.