Swedish buyout house EQT has sold its medical devices business Atos Medical to private equity firm PAI Europe, it said on Monday, with sources valuing the deal at about 850 million euros ($946 million).
PAI Europe won the bid for voice implant maker Atos Medical, EQT said in a statement, but the two parties agreed not to disclose the transaction value.
People familiar with the matter told Reuters that the Swedish company had been valued at about 850 million euros during the negotiations.
Last year Atos Medical reported 30 percent growth in revenue to 1 billion Swedish crowns ($120,000) and 2016 earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to come in at 60 million euros, against about 40 million euros last year.
Source : reuters.com