CSAM Health Group AS (“CSAM”), the leading provider of niche eHealth solutions in the Nordics, today announced that they have acquired the Public Safety business of Carmenta Holding AB of Sweden.
With the acquisition of Carmenta Public Safety, CSAM expands its Emergency & Acute offering across the Nordics and Europe, further strengthening its leading position in this key domain.
Carmenta Public Safety provides complete software solutions for managing every aspect of emergency response. The company’s core products include CoordCom – a comprehensive 112 and emergency response system, and ResQMobile – emergency response software for emergency vehicles. The business is headquartered in Gothenburg, with approximately 50 employees based in Sweden and Spain.
– Carmenta’s Public Safety business is a key complement to CSAM’s leading portfolio of emergency and acute solutions, allowing us to offer even more value to new and existing customers in this important domain, said Sverre Flatby, CSAM CEO. – This acquisition reinforces CSAM’s focus on supporting national and regional emergency and rescue customers, providing them with the solutions and service they need to save lives.
– My team and I are excited to be joining the leading niche eHealth provider in the Nordic region. With the strategic backing of CSAM, we look forward to being able to support our existing customers even better and to gaining new footholds in the Nordic region and Europe, states Johan Hedensiö, President and CEO of Carmenta Public Safety.
– CSAM is a perfect strategic fit for the further successful development of Carmenta Public Safety. As well-established and listed market player, with a strong presence in Sweden, all employees and customers of Carmenta Public Safety can expect to benefit from this combination, added Björn Berndtsson, CEO of Carmenta Holding.
Carmenta Public Safety reported annual sales of ca 81 MSEK in 2020 with a corresponding EBITDA of > 10 MSEK.
The acquisition is based on an agreed enterprise value of 150 MSEK on a cash-free and debt-free basis implying an EV/sales multiple of 1.85x based on 2020 reported figures. The acquisition will be settled in cash.
Both signing and closing of the acquisition took place 15 February 2021.
For more information, contact:
Chief Financial Officer
+47 91 55 45 32
CSAM has established itself as a leading Nordic niche player in the specialised eHealth market with a unique blend of best-in-class innovative technology, and outstanding human skills. The company’s diverse portfolio of software solutions enables healthcare providers to access relevant clinical information at the point of care. CSAM’s commercial headquarters are located in Oslo, Norway. The company also has local offices in Tromsø, Stockholm, Karlstad, Gothenburg, Uppsala, Copenhagen, Helsinki, Oulu, Tampere, Valencia and Warwickshire, as well as a wholly owned software engineering subsidiary in the Philippines.
For more information, visit www.csamhealth.com.