EQT and Investor to sell Gambro to Baxter

  • EQT IV and Investor AB to sell Gambro Group to Baxter International Inc. for an enterprise value of SEK 26.5 billion

EQT IV (51%) and Investor AB (49%) have signed an agreement to divest Gambro Group (“Gambro”) to the global diversified healthcare company Baxter International Inc. (“Baxter”), for a total enterprise value of SEK 26.5 billion.

“During EQT IV’s and Investor AB’s ownership, Gambro has invested significantly in developing new monitors, launching new products and expanding the production capacity for dialyzers. In addition, Gambro has introduced a comprehensive and global quality control system and completed a rigorous quality enhancement program. The industrially sound combination of Baxter and Gambro will further enhance Gambro’s ability to provide these lifesaving products to providers and patients worldwide through the creation of a global dialysis company,” says Harry Klagsbrun, partner at EQT Partners in Sweden, Investment Advisor to EQT IV.

“Our two companies share a strong heritage in renal care with innovative technologies and a long-standing commitment to save, sustain and improve the lives of kidney patients worldwide. The combination of Baxter’s peritoneal and home dialysis portfolio as well as Gambro’s expertise in hemodialysis and acute therapies will create an integrated provider with a comprehensive renal and acute care offering, benefiting patients and healthcare givers globally. I’m excited about this transaction as Gambro together with Baxter will have the resources, technology and innovation to shape our industry for the future”, says Guido Oelkers, President and CEO of Gambro.
EQT IV and Investor AB took Gambro private from the Stockholm Stock Exchange through a joint public offer in 2006 for a total enterprise value of SEK 35 billion. After the delisting, the business was streamlined and the group was split into three independent parts – Gambro Healthcare (dialysis clinics), CaridianBCT (blood technology) and Gambro (dialysis equipment).

The first step in the streamlining process was taken when Gambro Healthcare was acquired in 2007 by private equity fund Bridgepoint for an enterprise value of SEK 6.1 billion. CaridianBCT was sold in 2011 to Japanese medical technology company Terumo Corporation for an enterprise value of USD 2.6 billion. By that time, CaridianBCT had grown into a world leading provider of technology, products and services in automated blood collection, therapeutic systems, whole blood processes and pathogen reduction technologies. Today, it constitutes the backbone of Terumo BCT, Terumo Corporation’s operations in blood banking, transfusion medicine and cellular therapies.

With the agreement to sell Gambro to Baxter, all parts of the formerly listed Gambro have found new owners. The total transaction value from the three divestments amounts to around SEK 50 billion.

The transaction is subject to approval from the relevant competition authorities and is expected to be completed during the first half of 2013.

Contacts:

Harry Klagsbrun, Partner at EQT Partners in Sweden,
+46 8 506 55 323
Johan Hähnel, EQT IV Spokesperson,
+46 8 506 55 334
Guido Oelkers, President and CEO Gambro
+46 46 16 97 07

About EQT

EQT is the leading private equity group in Northern Europe with over EUR 19 billion in raised capital and multiple investment strategies. Together with an extensive network of independent Industrial Advisors, EQT implements its investment strategy by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, supporting their development into leading companies. Development is achieved by an industrial strategy with focus on growth. Since inception, EQT has invested more than EUR 11 billion in around 100 companies and exited close to 50. EQT-owned companies have more than 550,000 employees.

EQT Partners, acting as Investment Advisor to the managers of each EQT fund, has around 120 investment professionals with an extensive industrial and financial competence. EQT Partners and its affiliates have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.

More information can be found on www.eqt.se