ADDvise Group AB (publ) (OM:ADDV A) signed a Letter of Intent to acquire Innovative Endoscopy Components, L.L.C. for $11.75 million on June 15, 2023. The purchase price for IEC amounts to an initial payment of $8.25 million, and two potential earn-outs of $1.75 million in total. The acquisition will be financed with own funds and existing credit facilities.

Innovative Endoscopy Components revenue for the last twelve months as of May 31, 2023 amounted to $9.4 million with an EBITDA of $1.7 million. The acquisition is subject to a due diligence and that the parties agree to enter into a share purchase agreement. The acquisition is expected to be completed during the second half of 2023.

ADDvise assesses that the acquisition will have a positive impact on ADDvise earnings per share for the financial year 2023.