ADDvise acquires Poly Pharmaceuticals, Inc.

12-02-2022   Regulatory press release

ADDvise Group AB has today entered into a share purchase agreement with the shareholders of Poly Pharmaceuticals, Inc. (“Poly Pharma”) regarding the acquisition of all the outstanding shares of Poly Pharma in accordance with the letter of intent communicated via a press release dated October 21, 2021. Closing of the acquisition will take place during the first quarter 2022.

Poly Pharma’s revenue for the last twelve months (LTM) per September 30, 2021, amounted to approximately USD 8.3 million, with an EBITDA of approximately USD 2.0 million, corresponding to an EBITDA margin of approximately 24.4 percent.

The purchase price for Poly Pharma amounts to a total of USD 13.0 million, divided into an initial payment of USD 7.0 million, two potential earn-outs of maximum USD 1.0 million each, given that the sellers achieve certain predetermined targets, and USD 4.0 million to be paid during a period of 24 months after closing of the acquisition.

The acquisition is financed through own funds. ADDvise assesses that the acquisition will have a positive impact on ADDvise earnings per share during the financial year 2022.

Advisor

Mangold Fondkommission AB is acting as financial adviser to ADDvise in the acquisition.

For further information, please contact:

Rikard Akhtarzand, CEO
+46 765-25 90 71

rikard.akhtarzand@addvisegroup.se

About ADDvise Group

ADDvise Group AB (publ) is a leading supplier of equipment to healthcare and research facilities. The group consists of two business areas, Lab and Healthcare. Sales are global. The Group has a clear acquisition strategy with the aim of raising shareholder value and expand the business - both geographically and product wise. ADDvise Group's shares are listed on Nasdaq First North Premier and Mangold Fondkommission AB, +46 8 503 015 50, CA@mangold.se is the Company's Certified Adviser. Additional information is available at www.addvisegroup.com.

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