Vision Ophthalmology Group GmbH (VOG), the parent company of Spectrum, is acquired by AddLife AB, an independent operator in Life Science that offers high-quality products and services within a wide variety of therapeutic areas to both private and public sectors across Europe. AddLife is a public company, listed on NASDAQ Stockholm. The seller, private equity firm Stirling Square Capital Partners, is selling all its shares in VOG to AddLife and is thereby ending its engagement in VOG.
The acquisition of VOG is a strategically important acquisition that adds a new therapeutic area to AddLife’s product portfolio. AddLife now enters ophthalmology – a global and attractive growth market that is growing due to technological development and an aging population with chronic diseases.
“We have been interested in the ophthalmology market for some time. The segment has all the critical characteristics to fit our business model, and it strengthens our position as an independent European niche player in Life Science. VOG has a strong management team that brings with it valuable experience in ophthalmology, which gives us a stable platform and good conditions to grow both organically and via acquisitions in an interesting area,” says Kristina Willgård, CEO of AddLife.
VOG will operate as an independent company under AddLife’s Medtech Business Area and will be the platform for AddLife’s growth agenda within ophthalmology. The new ownership with a long-term perspective will propel VOG’s strategy with focus on customer offering development, commercial excellence, digitalization, and market expansion through acquisitions. VOG’s current management team, organizational structure, and all points of contact towards customers and suppliers will remain unchanged.
“We welcome AddLife as our new owner and are very enthusiastic about developing VOG together with a long-term industrial owner. In 2019, we started extensive transformation work to lay the foundation for profitable growth and expand into new European markets. With the support of AddLife’s network and experience, we see ample opportunities for profitable growth,” says Dario Aganovic, CEO of VOG.
The takeover is conducted with immediate effect.
Brief overview of AddLife
AddLife’s entrepreneur-driven subsidiaries offer high-quality, cost effective solutions and products to both private and public sectors. The product portfolio consists of AddLife’s own products and products from other manufacturers. The service portfolio includes advisory services, technical service and training in all markets where the subsidiaries operate. With this approach AddLife creates added value for customers throughout Europe and builds long-term growth for the Group. AddLife is divided into two business areas Labtech and Medtech. AddLife. has about 1,200 employees in around 55 subsidiaries, which operate under their own brands. The Group has annual sales of approximately SEK 6bn (EUR 600m). AddLife is listed on NASDAQ Stockholm (ALIF-B).