CapMan to sell off OneMed

Finnish investment firm CapMan intends to sell off OneMed, its medical supplies company. Potential buyers will be given information memorandums next week. Nordic buyout firms such as IK Investment Partners, Nordic Capital and EQT are likely to be interested by the sale. CapMan owns a 65.9 percent stake in OneMed.

(Reuters) – Finnish listed investment firm CapMan is planning to sell medical supplies company OneMed, two sources familiar with the situation said, hoping to tap into a hot market for healthcare-related businesses.

CapMan has brought in Danske Bank and DC Advisory Partners to handle the sale, which could fetch about 300 million euros ($416.9 million), one of the sources said.

Potential buyers will receive information memorandums next week, with the business likely to interest Nordic buyout firms such as IK Investment Partners, Nordic Capital and EQT, the source added.

It is also seen drawing interest from European private equity firms active in healthcare, a hot spot for private equity investment in 2010.

Earlier this week, Permira unveiled a deal for Irish medical device maker Creganna-Tactx Medical, its first acquisition in the sector for 10 years.

OneMed makes bandages and wound dressings as well as surgical textiles and gowns, selling its products around the Nordic and Baltic regions and in Poland. It employs some 700 people.

It had pro forma sales of about 350 million euros in 2009, according to the company’s website.

CapMan owns a 65.9 percent stake in OneMed. The remainder is owned by minority investors and company management.

CapMan had no immediate comment. Danske and DC Advisory declined to comment.
(By Simon Meads and Alasdair Reilly. Editing by David Cowell)