ADDvise Group to acquire Diabetic Supplies
By HME News Staff
Updated 10:26 AM CDT, Thu August 10, 2023
STOCKHOLM - ADDvise Group, a supplier of equipment to health care and research facilities, has entered into a share purchase agreement with the owners of Diabetic Supplies Inc. to acquire all shares of the company. ADDvise Group will acquire Diabetes Supplies for an initial cash purchase price of $9.5 million, with two potential earn-outs of a total of $5.1 million, providing that Diabetic Supplies achieves certain determined financial targets. Diabetic Supplies’ revenue for the 12 months ended June 30, 2023, was $8.1 million, with an EBITDA of $3.3 million, corresponding to an EBITDA margin of 40.4%. ADDvise will fund the acquisition through its own funds and existing credit facilities. It believes the acquisition will have a positive impact on its earnings per share during the financial year 2023. ADDvise Group expects to close the acquisition at the beginning of September 2023.
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