Handicare AS acquires RoMedic AB in Sweden and strengthens its position internationally within lifting-, transfer- and positioning products for elderly and handicapped.

Handicare AS acquires all the shares in RoMedic AB. The company produces and sells products for transfer, positioning, support and lifting of patients. The company has subsidiaries in Norway and the USA in addition to export sales in 25 other countries. Romedic reached 6,5 million EURO in total sales in 2007, a growth of 37% from the previous year and expects a growth ratio on the same level for 2008.

The health company Handicare AS, owned by Ferd Private Equity Fund, was founded in 1986 and has operations in technical aids like wheelchairs and home care products in addition to adaptation of cars for elderly and physically disabled people. Through its subsidiary Puls, the Group also has a leading position in Norway in the sales of capital goods and consumables to hospitals and institutions. Handicare has its headquarters in Moss, Norway, and has subsidiaries in Sweden, Denmark, Germany, the Netherlands, England, Belgium and Canada, and distribute its own products to an additional 20 markets.

”We are delighted to welcome Romedic into the Handicare Group” says Per Gunnar Borhaug, CEO in Handicare AS. RoMedic has had a substantial growth in their revenue and profit the last two years. The company has a strong focus on quality, an interesting product assortment and experienced personnel with a high level of competence. Handicare contributes to make everyday life easier both for elderly and those who are caring for them and to increase the independence of disabled or elderly people. With the increasing elderly population, fewer people to nurse them and the need for technical aids to overcome the challenges, we foresee a growing future market. Romedic contributes to expand our product portfolio and opens new markets for other products from Handicare. Handicare has a yearly turnover of approx 220 million Euro and has 900 employees.

Björn Ross, the founder and large share holder in RoMedic see the sale of the company as a confirmation that the Romedic products developed by him are attractive for a leading company within the business.

”Handicare felt like a natural choice for us, when we had decided to sell the company” says the main shareholder and President in RoMedic, Hardy Brännström. He will continue in his position as president for Romedic AB.

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