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Norway – Healthcare staffing firm Dedicare sells personal care business

17 April 2015

Swedish healthcare staffing company Dedicare AB (DEDI: SS) announced today that the company has sold its Norwegian personal care staffing business Dedicare Assistanse (Assistance) to Nordic care company Humana.

After the deduction of transaction costs, Dedicare is expected to net approximately SEK 24 million (€2.6 million) from the sale.

The care business was launched in Norway by Dedicare in 2012 and has an annual turnover of SEK 41.8 million (€4.5 million), which represented 8% of Dedicare’s total sales in 2014. The company sold its Sweden-based Dedicare Assistanse business in July 2014 for a total consideration of SEK 16.6 million (€1.8 million).

Stig Engcrantz, CEO of Dedicare, commented: “Dedicare has chosen to focus on its core business, healthcare staffing. I am very pleased that we have found a natural home for Dedicare Assistanse. Dedicare has built a strong reputation as a reliable player with high quality user-controlled personal assistance, which will complement the current operations of Humana is a very positive way.” 

Per Granath, CEO of Humana, added: “Personal assistance is where Humana’s origins lie. In Sweden we are the private company that most customers choose. Dedicare Assistanse is one of the leading players in the Norwegian care assistance market. With the support of Humana and access to Humana’s experience and expertise, Dedicare Assistanse will be in an even better position to develop its business.”

“Our ambition is that Dedicare Assistanse will also become the customer’s first choice, as well as a competent trustworthy partner for the municipalities that hire us. Through the acquisition of Dedicare Assistanse we are strengthening our presence in the Norwegian market and taking an important step in our quest to also becoming a complete care provider in Norway,” he added.

In trading today, Dedicare’s share price rose by 3.4% to SEK 43 (€4.63), an increase of 129.7% compared with a year ago. Based on its current share price, the company has a market value of SEK 299.7 million (€32.3 million).