ADDvise signs Letter of Intent to acquire Seebreath AB

28-02-2022   Regulatory press release

ADDvise signs Letter of Intent to acquire Seebreath AB

ADDvise Group AB (publ) has signed a Letter of Intent with the shareholders of Seebreath AB (”Seebreath”) regarding an acquisition of 100 percent of the shares in Seebreath.

Seebreath is a Swedish medtech company developing and producing colorimetric CO2-indicating products used in respiratory care. The products are mainly used in emergency care to monitor and ensure the safety of intubated patients. The company’s products are FDA approved and sold on the American market through two distributors.

Revenue for the financial year 2021 amounted to approximately SEK 12 million, with an EBITDA of approximately SEK 8 million, corresponding to an EBITDA margin of approximately 66 percent.

The purchase price for Seebreath amounts to a total of SEK 37.5 million, divided into an initial purchase price of SEK 29.0 million, and two potential earn-outs of maximum SEK 4.25 million and SEK 4.25 million respectively, given that the sellers achieve certain predetermined targets. The acquisition is financed with own funds.

The acquisition is subject to ADDvise due diligence and that the parties agree to enter into a share purchase agreement. The share purchase agreement and completion of the acquisition is scheduled to be completed during Q2, 2022.

For further information, please contact:

Rikard Akhtarzand, CEO
+46 765-25 90 71

rikard.akhtarzand@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 28 February 2022 at 16:00 CET.

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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