Direct Healthcare Group Ltd. entered into an agreement to acquire Patient Handling Europe division from Handicare Group AB (publ) (OM:HANDI) for €29.7 million on April 9, 2020. The transaction consideration will be paid on a cash and debt-free basis. Patient Handling Europe division reported €27 million as of December 31, 2019. The purchase price corresponds to an Enterprise Value / Adjusted EBITDA multiple of approximately 8x for the full year 2019. The closing of the transaction is not conditional upon any regulatory approvals or other external conditions and requires only Patient Handling Europe to be carved out from the other operations of Handicare. The transaction is expected to close in May. Peter Wikstom of Rothschild Nordic AB acted as Financial advisor to Handicare Group AB. Martin Ulfson, Pontus Röckert and Jonas Forsén of Advokatfirman Cederquist KB acted as legal advisor for ArchiMed parent of Direct Healthcare. Ross Allardice of Dechert LLP acted as legal advisor for Direct Healthcare. Wiersholm, Plesner and Houthoff acted as legal advisors in the transaction.