Czech Republic: Indutrade acquires Cheirón

Nasdaq Stockholm-listed Indutrade has signed an agreement to acquire Czech medtech company Cheirón.

Cheirón is a technical trading company of medical technology products, specialising primarily in equipment used for healthcare applications in surgery rooms, intensive care wards, emergency wards, and cardio units. Providing value-added solutions and service to their hospital customers’ specific needs, the product offering includes monitoring equipment, respirators, defibrillators, anaesthesiology equipment, as well as a wide range of single-use items.

Cheirón also produces its own product line of suction devices which they sell through a broad network of international distributors.

Financial terms have not been disclosed, but Cheiron has annual sales of US$13.1m.

“Cheirón is recognised as a leading supplier to the broad Czech hospital market, having close and long-standing relationships with its core suppliers, and a dedicated service culture towards the customers,” said Joakim Skantze, senior vice president of the business area industrial components unit at Indutrade. “It’s a great addition to the Indutrade medtech/healthcare cluster group,” he added.

The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.