SWEDEN - MedCap increases stake in Handitek

A debt package of SEK 3.5m supported the deal.

The acquisition is an add-on to MedCap's portfolio company GEWA, a developer of technical aids for people with disabilities, which first purchased an 18% stake in the company in 2006. In 2006 GEWA generated sales revenues of SEK 9.2m on Handitek's products, making it the most important distributor of Handitek's product. In 2008 Handitek's sales through GEWA amounted to SEK 17.1m. It is expected the increased co-operation following this transaction will facilitate Nordic expansion, in addition to the planned product launches in Holland and the UK. Like GEWA, Rättvik-based Handitek develops technical aids for disabled people and was founded in 1989.

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• Topics
• Expansion
• Nordics