CSAM Health Group AS ("CSAM"), the leading provider of niche eHealth solutions
in the Nordics, today announced that they have acquired the Public Safety
business of Carmenta Holding AB of Sweden.
With the acquisition of Carmenta Public Safety, CSAM expands its Emergency &
Acute offering across the Nordics and Europe, further strengthening its leading
position in this key domain.
Carmenta Public Safety provides complete software solutions for managing every
aspect of emergency response. The company's core products include CoordCom - a
comprehensive 112 and emergency response system, and ResQMobile - emergency
response software for emergency vehicles. The business is headquartered in
Gothenburg, with approximately 50 employees based in Sweden and Spain.
- Carmenta's Public Safety business is a key complement to CSAM's leading
portfolio of emergency and acute solutions, allowing us to offer even more value
to new and existing customers in this important domain, said Sverre Flatby, CSAM
CEO. - This acquisition reinforces CSAM's focus on supporting national and
regional emergency and rescue customers, providing them with the solutions and
service they need to save lives.
- My team and I are excited to be joining the leading niche eHealth provider in
the Nordic region. With the strategic backing of CSAM, we look forward to being
able to support our existing customers even better and to gaining new footholds
in the Nordic region and Europe, states Johan Hedensiö, President and CEO of
Carmenta Public Safety.
- CSAM is a perfect strategic fit for the further successful development of
Carmenta Public Safety. As well-established and listed market player, with a
strong presence in Sweden, all employees and customers of Carmenta Public Safety
can expect to benefit from this combination, added Björn Berndtsson, CEO of
Carmenta Public Safety reported annual sales of ca 81 MSEK in 2020 with a
corresponding EBITDA of > 10 MSEK.
The acquisition is based on an agreed enterprise value of 150 MSEK on a
cash-free and debt-free basis implying an EV/sales multiple of 1.85x based on
2020 reported figures. The acquisition will be settled in cash.
Both signing and closing of the acquisition took place 15 February 2021.
For more information, contact:
Chief Financial Officer
+47 91 55 45 32
CSAM has established itself as a leading Nordic niche player in the specialised
eHealth market with a unique blend of best-in-class innovative technology, and
outstanding human skills. The company's diverse portfolio of software solutions
enables healthcare providers to access relevant clinical information at the
point of care. CSAM's commercial headquarters are located in Oslo, Norway. The
company also has local offices in Tromsø, Stockholm, Karlstad, Gothenburg,
Uppsala, Copenhagen, Helsinki, Oulu, Tampere, Valencia and Warwickshire, as well
as a wholly owned software engineering subsidiary in the Philippines.
For more information, visit www.csamhealth.com.