Oriola-KD Corporation has completed the sale of its Healthcare Trade business to Mediq N.V.
The transaction of Oriola-KD Group's Healthcare Trade business to Dutch stock listed company Mediq N.V. has been completed. Mediq has paid EUR 85 million in cash for the acquisition to Oriola-KD on 31 May 2010. Oriola-KD will record a profit of approximately EUR 60 million from the sale of the business in the second quarter of 2010. The sale of the Healthcare Trade business supports Oriola-KD's strategy to focus on Pharmaceutical Wholesale and Retail businesses.
The net sales of Healthcare Trade business in 2009 were EUR 145.1 million (EUR 155.2 million) and operating profit EUR 8.9 million (EUR 7.9 million). The business has currently some 440 employees in Finland, Sweden, Denmark, Estonia, Latvia and Lithuania.
Mr Ilari Vaalavirta, member of Oriola-KD Group's Management Team and Vice President of Healthcare Trade business will move to Mediq at time of the sale of Healthcare Trade business operations.
Most read news
Other news from the department business & finance

Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.