AddLife is continuing its expansion in Europe by acquiring Bio-Connect Group ("Bio-Connect"), for inclusion in its Labtech business area. Bio-Connect is a distributor with operations in the Benelux countries in Life Science and Diagnostics, and has a turnover of approximately EUR 14 million. The Benelux countries are an attractive Life Science market in Europe, where AddLife has had operations in the Medtech business area for many years.
Bio-Connect markets and sells a wide-ranging portfolio of leading brands from mainly research-oriented suppliers in Life Science, Diagnostics, Food, Pharma and Veterinary. In addition, the company is a full-service provider to key customers for niche Life Science research and diagnostic reagents and customized products. Its customers are mainly university and hospital laboratories as well as privately and publicly funded research organizations.
The acquisition strengthens our presence in the Benelux countries and opens up opportunities for cooperation with our other companies in Europe that are active in the same product segment.
Bio-Connect has a turnover of approximately EUR 14 million and 31 employees, based in Huissen (the Netherlands) and Brussels (Belgium). The business has its own sales force in both countries.
"The acquisition of Bio-Connect means that we are strengthening our presence in an attractive segment where we already have major expertise and market presence in several European markets," says Kristina Willgård, CEO of AddLife AB.
Closing of the acquisition takes place as of today and is expected to have only a marginal positive effect on AddLife's earnings per share in the 2021 financial year.
Stockholm, 1 September 2021
AddLife AB (publ)
For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46 (0)705 10 12 23
Peter Simonsbacka, Labtech Business Area Manager, AddLife AB, +46 (0)702 87 00 87
AddLife is an independent European player in Life Science that offers high-quality products, services and consulting to both the private and public sectors. AddLife has about 1,800 employees in around 70 operating subsidiaries, which operate under their own brands. The Group has annual sales of approximately SEK 7 billion. AddLife is listed on the NASDAQ Stockholm stock exchange.
This information was issued for publication on 1 September 2021 at 13:00 CET.