The transaction strengthens growth, margins and cash flow and is carried out without dilution for shareholders or the need for external financing. Through the acquisition, iZafe estimates that the ARR target of SEK 10 million can already be achieved during Q4 2025, earlier than the original projection of year-end 2025. The deal also increases the likelihood of reaching the ARR targets for coming years at a faster pace.

Since its founding in 2023, Thuisapparatuur has worked exclusively with the distribution of Dosell and has built a strong local presence in the Netherlands. The company will now become a wholly owned subsidiary within the iZafe Group under the new name Dosell B.V., meaning that the distribution of Dosell in the Dutch market will henceforth be handled directly by iZafe, thereby capturing the full revenue from this important market.

Transaction terms

• Purchase Price: EUR 1.55 million, which includes the assumption of the company’s existing loan.
• Payment terms: The Purchase Price will be settled in seven instalments during the period July 31, 2026 – July 31, 2029. The first two instalments will each amount to 20% of the Purchase Price, while the remaining five will be evenly distributed over the subsequent payment dates.
• Security: In the event of non-payment, the debt may, as a last resort, be converted into shares in iZafe Group under agreed terms.
• Closing: Has taken place today in connection with the signing of the agreement.
• Final obligations: Upon completion of all seven instalments, iZafe Group will have no further payment obligations to the seller.

The transaction is not expected to have a negative impact on iZafe’s liquidity, as the Purchase Price is projected to be fully financed through future cash flows from both the existing and the acquired business. The Purchase Price of EUR 1.55 million largely corresponds to the capital invested to date in Thuisapparatuur, which iZafe considers a sound valuation relative to the company’s established growth and strong market position. It should be noted that Thuisapparatuur has a cash position of approximately EUR 250k included in the acquisition. Excluding this cash, the Purchase Price corresponds to approximately EUR 1.30 million.

Dosell contributes to safer medication management, reduced medication errors and frees up time for healthcare staff – needs that are growing rapidly in line with an aging population. The product has documented high customer satisfaction and generates clear efficiency gains.

The Netherlands is Europe’s largest market for pouch-packed medication, with over 600,000 people receiving their medicine in pouches – the same format Dosell is designed for. The country is also the European market that has advanced the furthest in adopting medication dispensers, with around 17,000 active units, and the market where iZafe is currently growing the fastest.

In 2024, Thuisapparatuur’s revenue amounted to approximately SEK 0.75 million. For the period January–September 2025, the company recorded an average monthly growth rate of approximately 16%. As of September 30, 2025, Thuisapparatuur’s total Annual Recurring Revenue (ARR) amounted to approximately SEK 4.2 million. Following the acquisition, 100% of future revenues from the sale of Dosell in the Netherlands will accrue to iZafe Group, strengthening recurring revenues, improving margins and increasing cash flow.

– This is a strategically important step that gives us direct control over our largest and fastest-growing market. The entire Dutch organization has for several years worked exclusively with Dosell and is already deeply integrated into our product, business model and customer base. This makes it a natural next step for both them and us. Together we strengthen our business, improve profitability and lay the foundation for continued growth across Europe. Our core strategy of expanding through strong partnerships across Europe remains firm, but in the Netherlands it is right that we take the lead ourselves, says Anders Segerström, CEO of iZafe Group.