September 12th, 2007
OneMed healthcare group grows significant acquisition in Poland
CapMans buyout portfolio company OneMed Group will acquire the majority shareholding or 75 per cent of Hand-Prod Group, Polands leading wholesaler of healthcare products. OneMed Group sells, markets and imports healthcare products, healthcare equipment and laboratory products and will substantially strengthen its position in Northern Europe with the transaction.
Hand-Prod Group is one of the leading wholesalers of healthcare products in Poland. In addition to the mother company, the Group includes associate companies Homeofarm, Blau-Farma and Dia-Pol, which are all included in the transaction. Hand-Prod Groups customers include public and private hospitals, laboratories, medical centres, pharmacies and pharmaceutical wholesalers.
The Groups turnover is approx. EUR 100 million and it holds a particularly strong position in diagnostic and surgical products as well as in specialty pharmaceuticals for hospital use. The Group has also expanded its operations into the service sector and is at present building a network of dialysis stations in Poland. Hand-Prod Group employs 155 employees at the companys headquarters in Warsaw and at six regional sales offices in Poland. Including Hand-Prod Group, OneMeds turnover is estimated at approx. EUR 320 million in 2007.
The Hand-Prod acquisition further reinforces OneMeds position as a prominent healthcare and laboratory products group in Northern Europe. OneMed and Hand-Prod have substantial synergy benefits thanks to complementary product ranges and distribution channels, says Ari Tolppanen, Chairman of the Board of OneMed and CapMan Senior Partner. Both Hand-Prod and the entire healthcare market in Poland have grown strongly, and we believe that this growth will continue with the ageing of the population and the increase in funds available for pharmaceuticals and healthcare supplies.
Hand-Prod Group will continue its business operations as an independent unit and the personnels employment will remain unchanged after the transaction. The Groups current Director General and one of the two founders, Boleslaw Kukolewski, will continue as the head of the company. Mr Kukolewski will hold a 25 per cent minority shareholding in the Group. The transaction is subject to approval by competition authorities and it is expected to be finalised by the end of the year.
In addition to the newly acquired Hand-Prod Group, OneMed Group consists of Tamro MedLab Oy (now OneMed Oy) acquired from Tamro Corporation in June 2006, Förbandsmaterial AB and SelefaTrade AB in Sweden as well as WL-Medical Oy acquired in Finland last spring.
Vienna Capital Partners acted as a financial advisor to the sellers.
CapMan is one of the leading alternative asset managers in the Nordic countries and manages Nordic funds with approximately EUR 3 billion in total capital. CapMan has four investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science and CapMan Real Estate), and each of them has a dedicated team. Altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001. CapMan Buyout makes both equity and mezzanine investments in middle market buyouts in almost all industries in the Nordics. The Buyout team comprises 25 experienced professionals. The current team has made over 60 Nordic investments and close to 40 exits. Examples of the current portfolio are Finnish Lumene, Swedish MQ, Norwegian Cardinal Foods and Danish Anhydro. The aggregate turnover of current portfolio companies is approx. EUR 2.8 billion and the companies employ nearly 18,000 people.
OneMed sells, markets and imports a broad range of basic and specialised healthcare products, laboratory products, diagnostics and biotechnical products and equipment. OneMed has own sales offices in the Nordic countries and Baltics. OneMed has some 400 employees and the companys pro forma turnover for the 2006 financial year was EUR 200 million. www.onemed.com
Ari Tolppanen, Senior Partner, Chairman of the Board of CapMan Plc, tel. +358 500 407 343
Boleslaw Kukolewski, Director General, Hand-Prod Group, tel. +48 22 867 87 37
Jorma Turunen, CEO, OneMed Group Oy, tel. +358 400 45 9448
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