Hygiene and health company Essity has signed an agreement to acquire 75% of the Swedish medical solutions company ABIGO Medical AB. The company develops, manufactures and markets products including the Sorbact® technology, which is a clinically established innovation for advanced wound care.
ABIGO Medical AB was founded in 1989 by brothers Jan G and Leif Smith and is currently a key partner and sub-supplier to Essity. Jan G. Smith will retain a 25% stake in the company and remain as chairman of the board.
ABIGO Medical AB reported net sales of approximately SEK 403m in 2019 and is as a whole valued at SEK 900m on a debt-free basis.Baker McKenzie acts as legal advisor to Essity Aktiebolag (publ) in connection with the acquisition. Baker McKenzie’s team mainly consisted of Carl Svernlöv, Christian Reineby and Erik Brändt Öfverholm. Olof König, Peder Oxhammar, Erik Holmgren, Seher Budak, Sofie Sternberg, Edvard Henriksson and Truls Sandberg from the Stockholm office and Werner Berg and Lisa Weinert from the Brussels office also advised in the transaction.