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AddLife: Deal means further expansion outside Nordic region

By Joe Whitworth+

14-Dec-2016
Last updated on 14-Dec-2016 at 10:25 GMT2016-12-14T10:25:17Z

©iStock/vetkit
©iStock/vetkit

AddLife is to acquire all shares in part of Biolin Scientific AB which has been owned by Ratos since 2010.

The firm said it means further expansion outside the Nordic region and the deal will have a marginally positive effect on earnings per share.

Biolin Scientific AB sells to universities and industry with a turnover around SEK 100m (€10.3m).

Operations are in two independent subsidiaries called Analytical Instruments and Drug Discovery.

With the divestment of Analytical Instruments, Drug Discovery will be run as an independent company in Ratos as Sophion.

"We have chosen to divest Analytical Instruments to AddLife, which will become a new, long-term owner with similar operations in Life Science. At the same time, this will enable increased focus on Sophion's core operations as an independent company," said Christina Rubenhag, CEO of Biolin Scientific Holding.

The Nordic developer and producer of analytical instruments for material analysis at the nanoscale will be part of the Labtech business area within AddLife and marks the fourth acquisition since March this year.

Addlife said customers within life science market are primarily research, university and academia and pharmaceutical and food industry including AstraZeneca, Eurofins and Novo Nordisk.

The technique is based on research at Chalmers University of Technology in measurement technology at the nanoscale.

Biolin Scientific AB has global sales through subsidiaries in US, UK and China and distributors.

Headquartered in Sweden it has research and production in Sweden and Finland with 61 employees.

Peter Simonsbacka, business area manager Labtech at AddLife, said material analysis at the nanoscale is an area where global developments emerge rapidly. 

As a world leading supplier of instruments for studies of material characteristics at the nanoscale Biolin Scientific contribute to creating new innovative products and solutions in a variety of areas for their customers.

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