ADDvise finalizes acquisition of Sonar Oy – Regulatory information

02-04-2019   Regulatory press release

ADDvise Group AB (publ) (”ADDvise”) has today finalized the acquisition of Sonar Oy (“Sonar”) that has previously been communicated through a press release published February 28th, 2019. The purchase price amounts to 3.2 MEUR, with two possible earn-outs.

Sonar in brief

Sonar Oy is a Finnish med-tech company. The product portfolio, among other products, consists of ultrasound and X-ray equipment. The revenue for 2018 amounted to approximately 7.0 MEUR with an adjusted EBITDA of approximately 0.8 MEUR. 

Purchase price and financing

The initial purchase price amounts to 3.2 MEUR based on a cash and debt free basis and is paid in cash. A possible earn-out of maximum 1.1 MEUR may be paid given that certain earning targets are met. The earn-out will indicatively be paid in Q2 2020 and Q2 2021. The Acquisition will be financed with own funds as well as with proceeds from the rights issue completed in February 2019.

Acquisition costs of a non-recurring nature amounting to approximately 0.2 MEUR will burden ADDvise Group’s Q2 2019.

Advisor

Mangold Fondkommission AB is the financial advisor and Krogerus is the legal advisor to ADDvise in connection with the Acquisition. 

For further information, please contact:

Rikard Akhtarzand, CEO.

+46 765-25 90 71

rikard.akhtarzand@addvisegroup.se

www.addvisegroup.se 

Important information: 

This information is by ADDvise Group AB required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on April 2nd, 2019 at 10:00 CET. 

About ADDvise Group
ADDvise Group AB (publ) is a leading supplier of equipment to healthcare and research facilities. The group consists of approximately 10 subsidiaries organized into 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 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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