ADDvise Group Acquires Diabetic Supplies to Expand Diabetes Product Line

Swedish medical technology firm ADDvise Group has announced the signing of a Letter of Intent to acquire Diabetic Supplies Inc., a Columbus-based distributor of medical devices for diabetic patients. The deal involves the acquisition of all shares in Diabetic Supplies, which has established a strong customer portfolio of American insurance companies over its twenty years of operations.


Strengthening Market Position


Through the acquisition of Diabetic Supplies, ADDvise Group aims to complement its existing range of diabetes products and strengthen its market position. According to Rikard Akhtarzand, CEO of ADDvise Group, “Diabetic Supplies’ strong brand and good relationship with insurance companies open up new growth opportunities.”


Financial Details


Diabetic Supplies reported a revenue of USD 7.0 million for the full year 2022, with an EBITDA of USD 2.7 million, corresponding to an EBITDA margin of 39 percent. The purchase price for Diabetic Supplies amounts to a total of USD 15.8 million, divided into an initial payment of USD 10.3 million, and two potential earn-outs of maximum USD 5.5 million in total. To be entitled to the earn-outs, Diabetic Supplies must reach an EBITDA of USD 3.1 million during the next twelve months after completion of the acquisition and an EBITDA of USD 3.4 million for the following twelve months.


Impact on Earnings


The acquisition will be financed with own funds, and ADDvise Group assesses that it will have a positive impact on ADDvise’ earnings per share during the financial year 2023. The share purchase agreement and completion of the acquisition is scheduled to be completed during Q2, 2023, subject to a due diligence and agreement between the parties.




The acquisition of Diabetic Supplies is a strategic move by ADDvise Group to expand its diabetes product line and strengthen its market position. The deal will enable the company to offer more comprehensive solutions for diabetes patients, and the potential earn-outs provide a further incentive for the continued growth of Diabetic Supplies.

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