Sweden – Dedicare acquires life science staffing company H&P Search & Interim AB
March 16, 2022
The Swedish staffing company Dedicare (DEDI: SS) announced today that it has signed an agreement to acquire the life science staffing company H&P Search & Interim AB.
The effective date for the acquisition is April 1, 2022. H&P Search & Interim AB will then act as an independent company within the Dedicare Group from the second quarter of 2022.
The initial purchase price for the acquisition of H&P Search & Interim AB amounts to SEK 27.6 million (EUR 2.65 million), of which SEK 15.6 million (EUR 1.5 million) is paid in cash and SEK 8.3 million (0, EUR 8 million) in the form of shares in Dedicare through a non-cash issue. The additional purchase price has been agreed and is based on H&P Search & Interim AB’s earnings development in the coming years 2022–2024.
H&P Search & Interim AB is a supplier to the Nordic market with a focus on recruiting and hiring consultants in the life science sector.
According to Dedicare, the acquisition of H&P Search & Interim AB is completely in line with Dedicare’s growth strategy, where it complements the existing life science business area.
“H&P Search & Interim AB is a company with qualified staff and a stable customer base in the private sector and will form the basis for Dedicare’s continued investment in Life Science in the Nordic region and the rest of Europe,” said Krister Widström, CEO of Dedicare.
Johan Walde, President and CEO of H&P Search & Interim AB, said: “H&P Search & Interim is in a strong growth phase. Thanks to new strong owners and our talented employees, we can now continue on our already exciting journey. Our company will continue to operate as an independent company within the Dedicare Group and, thanks to the acquisition, have even greater muscles for continued growth. ”
Last month, Dedicare reported sales for the fourth quarter ending December 31, 2021 of SEK 354.3 million (EUR 33.7 million), an increase of 43.4% compared to the same period last year.