The Swedish staffing firm Dedicare AB which focuses on the healthcare sector, has reported an annual growth rate that has exceeded expectations. Group revenues for the period increased by +40.1% to €13.2 million (117 million Swedish Krona) up from €9.3 million (83 million Swedish Krona) in the previous year. This is mainly due to general growth in the healthcare sector in the Scandinavian countries, particularly in Sweden and Norway.  

Revenues for the healthcare division in Sweden increased by +36.5% to €8.2 million (73.2 million Swedish Krona), up from €6 million (53.6 million Swedish Krona) in the previous year, due mainly to the increasing recruitment of nurses. 

In Norway, revenues for the period rose by +9.9% to €3.6 million (32.2 million Swedish Krona), up from €3.3 million (29.3 million Swedish Krona). This includes revenues from the recently acquired company Assistance AB.

Revenues for the Care Sweden division in the period amounted to €1.3 million (11.6 million Swedish Krona.

Dedicare has recently acquired various smaller staffing firms in the region, including Care Assistance S & M AB in Sweden. In Norway the firm has also expanded by teaming up with various care providers. The company will report revenues for the newly acquired firms by April. 

Dedicare AB is a Sweden-based company and is principally engaged in the recruitment of medical doctors, nurses and other health care workers in Sweden, Norway and Finland. The Company has six wholly owned subsidiaries, including Dedicare AS, Dedicare Doctor AB, Dedicare OY, Dedicare Doctor AS, Dedicare Sales AB and Dedicare Omsorg AB. The firm has a market capitalisation of €27.6 million (244.35 million Swedish Krona). 

In early trading today, shares for the company were down -1.46% at 27 Swedish Krona, 20.35% below its post-IPO high of 33.90, set on 17 May 2011.