Sunrise Medical acquires Handicare's Mobility business04/08/2015
Sunrise Medical announced today the acquisition of Handicare's Mobility division, headquartered in Helmond, The Netherlands. This follows the acquisition of Sunrise Medical by Nordic Capital that was announced in June 2015.
The Handicare product lines that form part of this acquisition are limited to mobility products such as wheelchairs, scooters and rollators. All other Handicare product lines such as Accessibility, Patient Handling, car adaptions etc. are not part of this transaction.
Handicare's Mobility business with divisions in Norway, Sweden, Denmark, Holland, Belgium, Germany, France and Canada, will expand Sunrise`s geographic and product reach. Sunrise Medical's annual sales post transaction will well exceed € 400m, cementing their leadership position as the single biggest Premium Mobility Company globally.
Thomas Rossnagel, President & CEO of Sunrise Medical, is excited by the opportunity that this acquisition presents: "Sunrise Medical has seen very strong growth over the past 5 years, organically and by way of strategically important and successful acquisitions. To now acquire Handicare's Mobility business makes perfect commercial sense. This business is highly complementary to Sunrise Medical's, geographically as well as from a product perspective.”
Johan Ek, Handicare's Chairman and acting CEO, added: "Sunrise Medical is the perfect home for continued successful development of our mobility business. Handicare Group will now have the opportunity to further focus on investing and growing our remaining business segments.”
Sunrise Medical’s intention is to integrate Handicare's Mobility Business over the course of the next 12-18 months. To facilitate a smooth transition, a brand license agreement has been signed allowing Sunrise Medical to continue to use the Handicare brand/logos for their mobility product lines for an agreed period of time. All other product related brands, name rights and all Intellectual Property rights relating to Handicare Mobility`s products will transfer to Sunrise Medical upon closing of the deal which is expected to take place by end of September 2015.
The purchase price of the transaction has not been disclosed.
For further information please contact:
Phone +49 7253 980204
Phone +46 72 232 17 11
About Sunrise Medical
Sunrise Medical is a world leader in the development, design, manufacture and distribution of manual wheelchairs, power wheelchairs, motorized scooters and both standard and customized seating and positioning systems. Sunrise Medical manufactures products in their own facilities in the United States, Mexico, Germany, United Kingdom, Spain and China. Their key products, marketed under the Quickie, Sopur, Zippie, Breezy, Sterling and Jay proprietary brands, are sold through a network of homecare medical product providers or distributors in over 130 countries. The company is headquartered in Malsch, Germany with North American headquarters in Fresno, CA and employs over 2,000 associates worldwide. For further information please see www.sunrisemedical.com.
Handicare was founded in 1986 and supplies technical aids for the elderly and physically disabled. Its products include wheelchairs and homecare products (such as stairlifts), patient handling and bathroom safety products, and personal transfer and automobile adaptation solutions. Handicare's brand products are distributed through a comprehensive network of professional dealers and distributors in 30 countries around the world. Through its subsidiary Puls, the group is also a market leader in the sale of capital goods and consumables to hospitals and institutions in Norway. Handicare has its headquarters in Kista, Sweden, and has subsidiaries in Norway, Denmark, Germany, the Netherlands, England, Belgium, France, Canada and the US. For more information, please see www.handicare.com.