Procuritas Capital Investors IV LP acquires Oral Care AB
Press Release, Guernsey/Stockholm, 17 May 2010
Procuritas Capital Investors IV LP (“PCI IV”) acquires Oral Care, the Swedish market leader in mobile dentistry.
“Oral Care is an attractive niche company that provides dental care to elderly and disabled in their residences through a mobile dentistry concept. The company is already the clear market leader in mobile dentistry in Sweden but there is still large potential to grow the business. In addition, the company has started initiatives to export its mobile concept to other countries. We look forward to assisting the company in exploring organic growth opportunities, as well as evaluating potential add-on acquisitions”, says Mattias Feiff, Partner at Procuritas AB, advisor to PCI IV.
“Oral Care is a pioneer in the field of mobile dentistry with well developed processes and working methods and a very strong team. We are also an R&D leader in geriatric odontology. In most countries, there is an increasing need for mobile dentistry for elderly due to demographical trends and we are well positioned to export our concept. Oral Care has grown more than 50% per year over the last couple of years and we are now ready for the next stage in the company's development. We look forward to working together with PCI IV and believe they will be a good partner for us in this exciting development.”, says Marianne Forsell, Cofounder and CEO of Oral Care.
The acquisition takes place through an international consortium led by PCI IV LP.
About Oral Care
Oral Care provides hygienist and dentist services through a mobile dentistry concept, primarily to elderly people living in specialized housing. Mobile dentistry is the most patient-friendly and cost-efficient method for providing this customer segment with necessary dental care.
Oral Care was founded in 1989 by Marianne Forsell and Bertil Herbst. In 1999, a dental care reform was implemented in Sweden, which allows elderly and disabled people to receive strongly subsidized dental care. The reform opened up the market for Oral Care and today the company has significant operations in Stockholm, Malmö and Gothenburg. In addition, the company has start-up operations in Linköping and Karlstad. Head office is located in Stockholm.
Marianne Forsell will remain CEO of the company and maintain a minority shareholding together with her husband Bertil Herbst.
More information about Oral Care can be found on www.oralcare.se.
Procuritas Capital Investors IV is a private equity fund focusing on mid-sized companies in the Nordic region. Oral Care is the fifth investment by PCI IV after Olivia, Däckia, Gram and Waterjet. PCI IV is advised by Procuritas AB and Procuritas Partners GmbH. Procuritas is a Scandinavian private equity house specialized in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region.
More information about Procuritas can be found on www.procuritas.com.
For further information, please contact:
Mattias Feiff, Partner, Procuritas AB, tel. +46 706 20 84 36
Marianne Forsell, CEO, Oral Care AB, tel. +46 706 77 27 05