ADDvise Group AB (publ) (OM : ADDV A) signed a letter of intent to acquire Diabetic Supply Inc. for $15.8 million on February 17, 2023.ADDvise Group AB (publ) (OM : ADDV A) entered into a share purchase agreement to acquire Diabetic Supply Inc. on August 07, 2023. The acquisition shall be executed at an initial cash purchase price of USD 9.5 million, and two potential earn-outs of a total of USD 5.1 million, given that Diabetic Supplies achieves certain determined financial targets.
The purchase price for Diabetic Supplies amounts to a total of $15.8 million, divided into an initial payment of $10.3 million, and two potential earn-outs of maximum $5.5 million in total. The acquisition will be financed with its own funds. Diabetic Supplies? revenue for the full year 2022 amounted to $7 million, with an EBITDA of $2.7 million. The acquisition is subject to a due diligence and the parties agree to enter into a share purchase agreement. The transaction is expected to close during Q2, 2023. ADDvise assesses that the acquisition will have a positive impact on ADDvise' earnings per share during the financial year 2023. Mangold Fondkommission AB is acting as financial adviser to ADDvise in the acquisition. As of June 15, 2023, the transaction is expected to close in during the third quarter 2023. As of August 7, 2023 Closing of the acquisition is expected to take place at the beginning of September 2023. The acquisition is financed through own funds and existing credit facilities. ADDvise assesses that the acquisition will have a positive impact on ADDvise' earnings per share during the financial year 2023.

ADDvise Group AB (publ) (OM : ADDV A) completed the acquisition of Diabetic Supply Inc. on August 7, 2023.