European Lab Distributor Acquired
The Life Science unit companies of Addtech, a publicly held, Swedish technology trading company, provide medical, diagnostic and lab products to the Nordic market. For the year ending in March, Addtech Life Science revenue grew 7.5% to SEK 1,057 million ($144 million = SEK 7.33 = $1).
Stockholm, Sweden 7/1/15—Addtech Life Science has announced the acquisition of Finnish firm Fenno Medical through its Mediplast business for an undisclosed amount. Fenno provides medical equipment and consumables as well as laboratory products to the health care, academic and industry sectors. Fenno generates annual revenues of €20 million ($22 million = €0.89 = $1) and has 35 employees. Addtech stated that the acquisition expands its presence in the Finnish market. The acquisition is expected to have a marginally positive effect on Addtech fiscal 2015 EPS.
