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New Keystone Advisers transaction: Össur acquires TeamOlmed

Össur has today signed an agreement to acquire 100% of the shares of TeamOlmed, a leading Swedish orthotic and prosthetic (O&P) provider, for SEK 310 million (USD 47 million). Additional payments of up to SEK 50 million (USD 7 million) depend on TeamOlmed meeting certain revenue and profitability targets in 2013 and 2014.


Össur has a long standing business relationship with TeamOlmed. With the acquisition, Össur gains a significant share of the Swedish O&P market. Össur and TeamOlmed together will be a strong partner for county councils, prescribers and patients offering innovative, cost effective and clinically proven solutions in Sweden.

TeamOlmed was created in 2011 through the merger of Olmed Ortopediska (founded in 1984) and Team Ortopedteknik (founded in 1994). TeamOlmed is Sweden's largest provider of O&P solutions to patients with impaired mobility. The vast majority of sales are through contracts with county councils in Sweden. The company has over 300 employees in patient care centers in Stockholm, Jönköping, Uppsala and several other locations around Sweden. Total revenues in 2012 amounted to SEK 348 million (USD 52 million) with an adjusted EBITDA of SEK 43 million (USD 6 million), which is expected to be the full year impact to Össur financials once fully consolidated. Total assets of TeamOlmed amounted to SEK 419 million (USD 63 million) at end of year 2012.

The purchase price is paid in full in cash and financed through existing financing facilities. The acquisition is subject to approval from Stockholm County Council and is expected to close in Q3 2013.

Keystone Advisers acted as advisor to Volati in the transaction.


Ämnen

  • Ekonomi, finans

Regioner

  • Utanför Sverige

Keystone Advisers is a fully independent Corporate Finance firm offering advice related to mergers and acquisitions (M&A), divestitures, as well as various financing arrangements. The firm has advised on approximately 140 transactions to a variety of different clients in a number of sectors since the inception in 2000. Keystone Advisers is a Partner owned firm and where the founders have experience from Investment Banking and Management Consulting from some of the largest global institutions. We are a team of 12 Corporate Finance professionals at the Stockholm office and in addition we have an own organization in the Baltic countries. Keystone Advisers aims to be the leading mid-market M&A advisory firm in the Swedish market.

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