Press release - 1 June 2006
CapMan acquires Tamro MedLab from Tamro Group
Funds managed by CapMan and Tamro Corporation have signed a sales agreement for the transfer of the Tamro MedLab business unit from Tamro Group to the ownership of CapMan funds. It is expected that the transaction, which includes all of Tamro MedLab’s business, will be closed by July 2006. The parties will not publish the transaction price.
The transaction will be made for a new company, and it is subject to the approval of competition authorities. For the present Tamro MedLab’s business will continue under the former company name and the personnel’s employment will remain unchanged after the transaction. The company’s management will be offered shares in the company in future.
Tamro MedLab sells markets and imports healthcare products, laboratory products, diagnostics and biotechnical products and equipment. In addition the company has its own product range OneMed. Tamro MedLab has operations in all Nordic countries as well as Estonia, Latvia and Lithuania. The company’s two business units are Med, which specialises in healthcare supplies and equipment, and Lab, which specialises in laboratory supplies, diagnostics and equipment. Tamro MedLab’s turnover was EUR 133 million in 2005 and it has some 270 employees. The company’s customers are healthcare facilities and industrial, research and educational laboratories.
”Tamro MedLab is a Nordic company that has been managed well and has a solid position in its chosen market areas. Growing healthcare markets and strong products make the company an attractive portfolio company for CapMan. Together with the company management, we will now further develop MedLab separately from the Tamro Group,” says Chairman of the Board of CapMan Ari Tolppanen, who will also become the Chairman of the Board of Tamro MedLab.
”CapMan’s ownership will be positively visible for our employees, our principals and our clients,” says Jorma Turunen, CEO of Tamro MedLab. ”Our objective now is to invest in stronger growth in the Nordic countries and Baltic states.”
”Tamro’s core business is pharmaceutical wholesales and in this area we plan to grow also in future. MedLab is a profitable company, whose business model differs significantly from our core business. We believe that under CapMan’s management MedLab will develop into an even stronger player in its sector,” states Jo Langmoen, CEO of Tamro Corporation.
Press conference:
We would like to invite the media and analysts to a Finnish press conference today, 1 June 2006 at 1.00 p.m. in Ravintola Sipuli / cabinet Passat, address Kanavaranta 7, Helsinki. The press conference will be held together with Tamro Group, which will present its Q1 result at the same time. Chairman of the Board Ari Tolppanen and Senior Partner Markus Sjöholm from CapMan, Jo Langmoen, CEO of Tamro Corporation, Juha Koponen, CFO of Tamro Corporation and Jorma Turunen, CEO of Tamro MedLab will be present at the event. The presentation will be shown on CapMan’s Internet pages when the press conference has commenced.
For further information, please contact:
Ari Tolppanen, Chairman of the Board, Senior Partner, CapMan Plc, tel. +358 9 6155 8340 or +358 500 407 343
Jorma Turunen, CEO, Tamro MedLab Oy, tel. +358 20 445 4048 or +358 400 459 448
Jo Langmoen, CEO, Tamro Corporation, tel. +358 20 445 4050
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