Reports have circulated that Swedish investor EQT is looking to sell portfolio company Atos Medical for €1 billion. EQT manages the fortune of the Wallenbergs, one of Sweden’s leading industrialist families, while Atos manufactures medical devices for ear, nose and throat conditions. The company's flagship Provox product is a prosthetic voice box enabling laryngectomy patients to speak again.
EQT previously acquired Atos from Nordic Capital in September 2011. According to EQT, the company's annual EBITDA increased 47% from 2012 to 2014, up to SEK265 million (€28.2 million). Atos has sought to capture increased demand from aging populations, a growing global middle class and medical advances; the company has added units in Japan, Brazil and Italy under current ownership.
As we noted in a recent spotlight on top investors in healthcare devices and supplies, PE-to-PE activity has recently picked up in the space. GPs predominantly sold healthcare device & supply companies to strategics from 2009 to 2014, but last year saw SBOs account for 55% of these exits, surpassing corporate acquisitions (43%).