Karo Bio acquires more than 90 percent of the shares in MedCore AB, a company which primarily markets licensed medtech products to pharmacies and hospitals in the Nordic region.
MedCore’s products target the therapeutic areas Diabetes, Anesthesia/Intensive Care and Surgery. Turnover is approx. MSEK 50 with an operating profit expected to be slightly positive in 2015. The purchase price is MSEK 18. In a first round, Karo Bio pays slightly more than 16 MSEK in new shares for a little more than 90 per cent of the shares in MedCore. Shareholders representing more than 90 per cent of the shares have accepted the offer. After the share issue, a cash offer will be made to remaining shareholders corresponding to the price in the share offer.
”The acquisition of MedCore, which fits our operations well, is a further step in the consolidation of the sector in the Nordic region”, says Anders Lönner, Chairman in Karo Bio.
“MedCore has better opportunities to develop positively within Karo Bio”, says Håkan Åström, Chairman of MedCore.
Source: Karo Bio