|Getinge acquires leading manufacturer of Ceiling Lifts|
Getinge has acquired BHM Medical Inc. of Canada. The company develops and distributes patient handling equipment for Healthcare and Elderly care. The market for ceiling lifters is growing by approximately 15% annually and BHM is a world-leader with a global market share of 25%. Through the worldwide sales and marketing organization of the Extended Care business area, BHM's strong range of ceiling lifters will be launched on several markets in Western Europe, where they are not represented today.
BHM had annual revenues of around SEK 206 million for fiscal 2003/2004. The company
has 130 employees. In North America the company has a very strong distribution network.
"Through this acquisition, Getinge is adding one more world class company to the organization", says Vice President Albrecht Knauf. "BHM based at Magog, Quebec, will be Getinge's competence centre for ceiling hoist lifters. By utilizing BHM's skills and experience, leveraging on business area Extended Care's existing sales and service network, we will see a positive impact on results and sales development in 2005".
The acquisition will contribute by SEK 35 - 40 million to the Group's pre-tax earnings during 2005, before restructuring costs of approximately SEK 15 million. BHM's strong cashflow will continue to develop well during the next fiscal year.
Getinge, 22nd September 2004
President and CEO
For further information:
Ulf Grunander, CFO, phone +46-35 15 55 00