Sunrise Medical, Fresno, Calif., recently announced the acquisition of Handicare’s Mobility division, headquartered in Helmond, the Netherlands. This follows the announcement in June that Sunrise Medical had been acquired by Nordic Capital.
According to a media release from Sunrise Medical, 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, reportedly will expand the geographic and product reach of Sunrise Medical. Furthermore, the company’s media release states, Sunrise Medical’s annual sales post transaction will well exceed € 400m—more than $436 million US—which reportedly will position the company as the single largest 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 to 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.