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AddLife has reached an agreement with the majority owner to acquire MBA Incorporado S.L, a leading Spanish player in orthopedic and emergency surgery

December 22, 2021 By SPINEMarketGroup

ONS, DEC 22, 2021 –AddLife continues its expansion in Europe and has today placed a bid for all shares in MBA Incorporado S.L (“MBA”), which has been accepted by Alantra Private Equity, which owns approximately 75 percent of the shares. The purchase price for 100 percent of the share capital has been agreed at EUR 111 million in cash and it is the parties’ intention that an acquisition agreement for all shares will be entered into during January 2022, after which access can take place.

MBA is a leading independent distributor in orthopedic surgery with operations in Spain, Italy and Portugal. The company has sales of approximately EUR 67 million and approximately 285 employees. The acquisition of MBA strengthens AddLife’s position in advanced surgery and is fully in line with the strategy of expanding into relevant niches within Europe. MBA have long been well established in Spain, accounting for 88 percent of sales. Italy and Portugal are markets that represent a smaller part of sales but where the company sees opportunities for growth in the future. Spain is, according to official statistics, the fifth largest Medtech market in Europe.

MBA offers solutions, high-quality products and adds customer value through high clinical competence and leading service to both public and private clients in Spain, Portugal and Italy. The customer base consists of more than 950 hospitals and MBA has a strong position in regional and local hospitals where service and support are a competitive advantage. The main product areas are orthopedic implants for reconstructions of, among other things, hips, knees and shoulders, as well as products and solutions for, above all, back and neurosurgery, trauma and anesthesia.

The Group has a supplier base with strong brands where the majority of the agreements are exclusive and the supplier relationships are long. The corporate culture in MBA is characterized by an entrepreneurial spirit and a great customer focus that adds value through a dedicated, specialized sales force, service, support and fast deliveries. The company has its own Academy, the MBA Institute, which trains both its own staff and end users in the form of surgical nurses and doctors. The group is led by an experienced sales-oriented company management, which stays even after the acquisition. The employees have long experience and high clinical competence to be able to support customers in the best way.

Through the acquisition, AddLife becomes an even more attractive partner for leading suppliers in our niches and product areas in Europe. In addition, the acquisition creates the conditions for increasing internal cooperation and the opportunity to sell the Group’s own products in new markets. “I am very enthusiastic about this acquisition.MBA gives us a stable foothold in Spain, one of Europe’s largest Medtech markets, an increased presence in Italy and an establishment in Portugal.

Within the Group, we see several collaboration opportunities between our companies in the niches where MBA is today a leader. The similarities between AddLife’s and MBA’s culture are striking and guarantee future opportunities for further development, ”says Kristina Willgård, CEO of AddLife.

Financial information

During the financial year 2021, MBA is expected to have sales of approximately EUR 67 million, with Spain accounting for 88 percent, Portugal for 7 percent and Italy for 5 percent of sales. The group has shown steady growth with CAGR of 5 percent since 2016. The company has good profitability and is expected to report an EBITA margin of approximately 17 percent. MBA is acquired from Alantra Private Equity, which owns about 75 percent, and a number of minority owners, which own about 25 percent. The purchase price amounts to a total of EUR 111 million and is financed through expanded credit facilities. MBA will be run as a separate subgroup and be part of the Medtech business area. Stockholm 22 December 2021 AddLife AB (publ) For further information please contact: Kristina Willgård, CEO, AddLife AB, +46 (0) 705 10 12 23 Martin Almgren, Business Area Manager Medtech and CFO, AddLife AB, +46 (0) 702 28 15 45

MBA in brief

MBA was founded in 1988 and is a Spanish leading independent distributor in orthopedic surgery. The company offers solutions, high-quality products and adds customer value through high clinical competence and service to both public and private customers in Spain, Portugal and Italy. The Group has operations in ten therapeutic segments where orthopedic implants for reconstructions of, among other things, hips, knees and shoulders, as well as products and solutions for, above all, back and neurosurgery, trauma and anesthesia are the main ones. During the financial year 2021, MBA is estimated to have sales of approximately EUR 67 million with an EBITA result of approximately 17 percent. The company has approximately 285 employees and is headquartered in Gijon, Spain.

AddLife is a European independent player in Life Science that offers high-quality products, services and advice to both the private and public sectors. AddLife has approximately 1,800 employees in about 70 operating subsidiaries that operate under their own brands. The Group has sales of approximately SEK 7.5 billion. The AddLife share is listed on NASDAQ Stockholm.

This information is such information that AddLife Ab (publ) is obliged to publish according to the EU. Market Abuse Regulation. The information was provided by the above contact person for publication on December 22, 2021 at 14.00 (CET).

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Filed Under: Acquisitions, NEWS Tagged With: 2021, NEWS

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