22.08.2006 11:50:00
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Getinge Acquires Innovative Telemedicine Growth Company
OTY is an innovative, rapidly expanding company active in thetelemedicine area and specializing in products and solutions for theIT infrastructure of hospitals, with a focus on the operation theatre.The company has developed unique hardware and software that enable theintegration of various electronic data systems in the operationtheatre, thus increasing the efficiency of the communication andvisibility of patient data. The products constitute a naturalcomplement to the Surgical Workplace division's existing productrange. For some time, Medical Systems has been cooperating with OTY inseveral markets. The market for telemedicine products focusing on theoperation theatre has expanded rapidly in recent years and is expectedto show continued favourable growth. Telemedicine has become anincreasingly important instrument in healthcare, ensuring that medicaldata is made simply available and serving as a basis for decisions,while simplifying documentation for future reference and teaching.
OTY GmbH has annual sales of approximately SEK 20 million, with 14employees The company's assets amount to approximately SEK 8.7 millionand its liabilities to SEK 6.4 million at the time of acquisition.
The purchase price is about SEK 44 million (60 per cent),corresponding to an EV/ EBITDA multiple of approximately 8, based onprofit for the financial year that ended on 30 June 2006.
OTY GmbH will be incorporated in the Getinge Group as of September2006. The Group estimates that the company will make a modestcontribution to pre-tax profit during the current year.
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