Asker Healthcare Group Buys Baltic Medtech Distributor Ambercell Solutions

Asker Healthcare Group, a European supplier of medical products and solutions to healthcare providers, said on August 19 that it has acquired 100% of the shares in Ambercell Solutions UAB, a Baltic medtech solutions provider and distributor. The acquisition remains subject to regulatory approval.

Asker did not disclose a purchase price in its press release, read via the Nordic investor site Inderes. It said Ambercell has 45 employees and generated revenue of approximately SEK 250 million in the past year, and that it expects the deal to be completed in the fourth quarter and to contribute positively to the group's EBITA margin.

What Ambercell does

Ambercell provides therapy- and procedure-specific packs and medical consumables through a proprietary integrated supply chain management platform, alongside a broad portfolio of medical products, technologies and clinical solutions, in Lithuania, Latvia and Estonia. The company focuses on conventional and image-guided operating rooms and on interventional medicine, according to the release.

"Its supply chain platform has become the preferred solution in many hospitals in the region, allowing healthcare professionals to focus on their patients and save valuable time," said Johan Falk, Asker's chief executive. Falk said Asker was proud to support the company "in its expansion across Europe" and to work with its team on improving patient outcomes and reducing the total cost of care.

Part of a buy-and-build model

Asker describes itself as a group that builds and acquires leading companies, combining what it calls the entrepreneurial drive of strong local businesses with the abilities and knowledge of a large group. The group has more than 5,000 employees in 19 countries and revenue of SEK 18 billion, the release says. Measured against that figure, Ambercell's roughly SEK 250 million in annual revenue is equal to a little over 1% of group sales.

In its interim report for January to June, published in July and also read via Inderes, Asker reported second-quarter net sales of SEK 4,686 million, up 18% from SEK 3,987 million a year earlier, and an adjusted EBITA margin of 10.0%, up from 9.5%. The report noted "One new acquisition signed, and continued good visibility among many high-quality acquisition candidates."

The Swedish financial news service EFN reported the acquisition on the morning of the announcement, citing the press release, and repeated the staffing and revenue figures and the expected fourth-quarter completion.

Asker did not say how the purchase will be financed, whether it includes deferred or performance-based payments, or which authority must approve it.