MALSCH, Germany, July 12,
2024 /PRNewswire/ -- Nordic Capital has entered
into an agreement to acquire a majority share in Sensio to further
accelerate the company's growth, international expansion and to
continue enhancing its technology platform and products. Sensio is
a leading provider of technology for social care and the investment
is made in close partnership with the Company's management. The
previous majority owner since 2018, Longship, will invest alongside
Nordic Capital as a significant minority owner.
Sensio is a leading provider in smart monitoring technology for
elderly and social care settings in the Nordics, addressing
challenges in care for citizens, patients, care personnel and
society at large. Today's societal challenge of an aging population
driving an increasing need of care, makes Sensio technology
particularly important today and in the future. Sensio is
headquartered in Norway and
provides its solutions to several hundred care providers and
operators across Norway,
Sweden, Denmark, and the UK, supporting care for circa
70 000 care recipients through its technology platform.
Since 2014, the company has dedicated itself to providing
innovative solutions to care homes and home care providers. The
company's flagship offering, includes leading products such as the
Sensio 365 software platform, the integrated Sensio Care wireless
nurse call platform and RoomMate, a multisensory monitor for
detecting and preventing falls. The platform improves quality of
care, including significant reductions in fall incidents, while
also generating operational efficiencies that frees up more time
for care and reduces costs of care meaningfully for society. Sensio
employs circa 200 dedicated individuals and has grown rapidly
during the last couple of years on the back of increased
implementation of its solutions in the Nordics and UK.
"We are on a mission to help transform the care sector and
enable a new way of working through the use of our technology.
Partnering with Nordic Capital for our next growth phase will
enable us to strengthen our value proposition and extend our
offering to more markets and people across Europe. We are equally delighted that Longship
will continue to be part of our journey," said Torbjørn
Aamodt, CEO at Sensio.
"We are deeply impressed with the team at Sensio, the company,
and the platform they've created over the past 10 years. Sensio's
combined solution of software and IoT devices can increase care
quality, while freeing up significant resources and drive
efficiencies within elderly care. Nordic Capital has strong
sub-sector focus areas within healthcare technology and IoT, and is
thrilled to offer, expertise, network and capital to fuel Sensio's
next growth phase," said Erik Otto
Nyborg, Managing Director, Nordic Capital Advisors.
"We are incredibly proud of the development in Sensio since our
investment in 2018. Sensio's innovative solutions are making a
meaningful impact on the quality of care for the elderly and those
in social care settings. We look forward to continuing this journey
alongside Nordic Capital, the management team and all the skilled
employees of the company, as it continues to expand and meet the
growing demands of the healthcare sector," said Kai Jordahl, Managing Partner, Longship.
The global market for elderly care is transitioning from analog
to digital and smarter solutions like mobile-based and wireless
nurse call systems and sensors based on AI technology. In many
countries, this transition is driven by an aging population,
increasing prevalence of dementia, an increased global shortage of
care staff, and increasing digital maturity of the social care
sector. In light of these trends, Sensio sees great potential for
its solutions to support the healthcare system in the face of
growing demands and needs.
As a leading tech and healthcare investor with three decades of
experience in fostering growth and international expansion, Nordic
Capital is primed to support Sensio into the future. Nordic Capital
will leverage its sector and operational expertise together within
its expert networks to facilitate Sensio's continued growth. Sensio
marks the tenth investment made by Nordic Capital Evolution since
2021. With a committed capital of EUR 1.2
billion, Nordic Capital Evolution targets investments in
mid-market growth companies across Northern Europe, applying Nordic Capital's
proven sector model.
Through this transaction Longship will realise the investment
from its Fund I and make a new investment from its latest Fund III.
Longship will continue to apply their active ownership involvement
and will in cooperation with Nordic Capital support the company in
the next stage of Nordic and international expansion.
It has been agreed that the terms of the transaction shall not
be disclosed. Completion of the transaction is expected in Q3 2024
and is subject to customary regulatory approvals and closing
conditions.
Media contacts:
Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com
Longship
Kai
Jordahl
Managing Partner
+47 909 82 271
kai.jordahl@longship.no
Sensio
Torbjørn Aamodt
CEO
+47 92026727
torbjorn.aamodt@sensio.no
About Sensio
Sensio is a leading provider of healthcare technology, solving
today's and tomorrow's care challenges for the benefit of both
residents, patients, relatives, healthcare personnel and society.
The company offers pioneering software and products such as
Sensio365 (IoT Health platform), RoomMate (digital supervision with
passive fall notification) and Safemate (mobile safety alarms).
Sensio is a Norwegian company that was founded in 2009 and today
has several hundred care facility customers in Norway, Sweden, Denmark, Iceland and the UK. Sensio has 200 employees
with a strong commitment to creating and implementing sustainable
products and services that simplify the everyday life of healthcare
personnel, to have #MoreTimeForCare for residents and patients.
Sensio owns and develops the products Sensio365, Sensio Care,
RoomMate, Safemate, IKOS, Smartvakt, Flexiblink and Vox.
www.sensio.io
About Nordic Capital
Nordic Capital is a leading sector-specialist private equity
investor with a resolute commitment to creating stronger,
sustainable businesses through operational improvement and
transformative growth. Nordic Capital focuses on selected regions
and sectors where it has deep experience and a long history. Focus
sectors are Healthcare, Technology & Payments, Financial
Services, and Service & Industrial Tech. Key regions are
Europe and globally for Healthcare
and Technology & Payments investments. Since inception in 1989,
Nordic Capital has invested EUR 25 billion in over 145
investments. The most recent entities are Nordic Capital XI with
EUR 9.0 billion in committed capital
and Nordic Capital Evolution with EUR 1.2
billion in committed capital, principally provided by
international institutional investors such as pension funds. Nordic
Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South
Korea. www.nordiccapital.com.
"Nordic Capital" refers to, depending on the context, any, or
all, Nordic Capital branded entities, vehicles, structures, and
associated entities. The general partners and/or delegated
portfolio managers of Nordic Capital's entities and vehicles are
advised by several non-discretionary sub-advisory entities, any or
all of which are referred to as "Nordic Capital Advisors".
About Longship
Longship is a Norwegian private equity firm established by a
group of experienced investment professionals in 2015. Longship
invests in companies with significant growth potential in the
Norwegian lower mid-market and are applying a transformational
growth approach. Longship manages three funds with a total of
approx. NOK 5.2 billion in committed
capital. www.longship.no
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