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    MOVE   CH0468525222

MEDACTA GROUP SA

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Swedish voice prosthesis group Atos Medical prepped for IPO -sources

07/29/2021 | 12:19pm EDT

FRANKFURT, July 29 (Reuters) - Atos Medical's private equity owner is exploring a stock market listing for the Swedish neck stoma care group at an expected valuation of about 2 billion euros ($1.8-2.4 billion), people close to the matter said.

French private equity firm PAI is in the process of mandating advisors for an initial public offering of the company whose products include voice prosthesis for speaking and laryngectomy tubes for breathing, they said.

While a flotation is the most likely option, PAI may also opt for an outright sale of the company, the people said. The company may fetch a valuation of more than 2 billion euros, some of the people said, while others said a valuation of more than 1.5 billion was a more likely outcome.

PAI declined to comment, while Atos Medical was not immediately available for comment.

The company was founded in 1986 by Swedish entrepreneurs Gert and Jan-Ove Persson and today serves more than 100,000 people with a neck stoma globally.

PAI bought the laryngectomy care products supplier in 2016 for 900 million euros from buyout fund EQT and has since strengthened the company through a string of acquisitions including Griffin Labs and Heimomed Heinze.

Atos Medical, which has annual sales of roughly 200 million euros and an EBITDA margin of 25-30%, competes with Teleflex, Acclarent and Sonova.

Medtech companies like Sonova, Teleflex, Amplifon, Medacta and GN Store Nord trade at roughly 30 times their trailing core earnings. ($1 = 0.8415 euros) (Reporting by Arno Schuetze. Editing by Jane Merriman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMPLIFON S.P.A. -2.47% 44.98 Delayed Quote.32.14%
EQT AB (PUBL) -4.60% 371.1 Delayed Quote.76.38%
GN STORE NORD A/S -1.88% 474.2 Delayed Quote.-2.67%
MEDACTA GROUP SA -2.75% 148.4 Delayed Quote.69.41%
SONOVA HOLDING AG -2.91% 373.3 Delayed Quote.62.30%
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Analyst Recommendations on MEDACTA GROUP SA
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Financials
Sales 2021 348 M 407 M 407 M
Net income 2021 56,0 M 65,6 M 65,6 M
Net Debt 2021 83,5 M 97,8 M 97,8 M
P/E ratio 2021 48,9x
Yield 2021 0,55%
Capitalization 2 737 M 3 207 M 3 207 M
EV / Sales 2021 8,11x
EV / Sales 2022 7,04x
Nbr of Employees 1 246
Free-Float 30,5%
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Mean consensus HOLD
Number of Analysts 4
Last Close Price 136,85 €
Average target price 107,02 €
Spread / Average Target -21,8%
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Managers and Directors
Francesco Siccardi Chief Executive Officer
Corrado Farsetta Chief Financial Officer
Alberto Siccardi Executive Chairman
Victor Waldemar Balli Lead Independent Non-Executive Director
Philippe A. Weber Independent Non-Executive Director
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