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 adaptations 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 and CEO of Sunrise Medical, is excited by the opportunity that this acquisition presents, “Sunrise Medical has seen very strong growth over the past five 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 the end of September 2015.