Paul Hartmann : HARTMANN Group to Acquire P&G Incontinence Brand in Spain/Portugal

Acquisition set to place HARTMANN as one of the leading adult incontinence product providers in the region

HEIDENDHEIM, Germany - Mar.02,2017 - The HARTMANN GROUP, a leading international supplier of medical and hygiene products, announced today, it plans to acquire Procter & Gamble's Lindor -- one of the most well-known adult incontinence brands in the Spain and Portugal professional channel. The transaction seeks to take place by end of second quarter of fiscal year 2017 and is subject to approval by local antitrust authorities.

As part of the agreement, HARTMANN is slated to obtain all P&G assets associated with the Lindor product portfolio (Lindor, Salvacamas, Lindor Care, Lindor Pants), Intellectual Property, contracts with employees, as well as a 25,000-square metre manufacturing facility in Montornés, Spain.

Boosting HARTMANN's profile in the region

The acquisition will position HARTMANN as one of the leading suppliers for adult incontinence products in Spain and Portugal.

'With this acquisition, HARTMANN will become a major player in the adult incontinence market in Spain and Portugal,' said HARTMANN CEO Andreas Joehle. 'It will further expand our local expertise in the incontinence market while giving us an opportunity to achieve synergies on a group level when it comes to operations, production and our supply chain.' According to Andreas Joehle, the move positions HARTMANN to create cross-selling opportunities and strengthen market access to wholesalers, pharmacies, and GPs thanks to Lindor sales volume and brand awareness.
In fiscal year 2015-2016, Lindor had sales of over €75 million. The majority of the company's sales come via the pharmacy channel, while a smaller amount can be attributed to institutions, such as hospitals and nursing homes.

Aging populations and incontinence Spain and Portugal

HARTMANN will continue to target the growing nursing home channel with more cost-efficient solutions that bring practical value to both caregivers and patients. The regional team will focus on reimbursed homecare products combined with an up-and-cross-selling approach through the pharmacy. In 2016, a study conducted by Spain's National Statistics office found that the percentage of the population aged 65 and over, is currently at 18.7 percent, it would reach 25.6 percent in 2031 and 34.6 percent in 2066.

'Eighty percent of all people in nursing homes are incontinent,' said Marc Perez, regional director Western Europe of HARTMANN GROUP. 'When we look specifically at Spain, these numbers are also at 80 percent. Adapting and anticipating the impact of demographic change in combination with rising rates of chronic conditions and shrinking healthcare systems has positioned us well for this strategic buy.'