Tunstall Healthcare Finalises the Acquisition Of STT Condigi
1.3.2012 16:18:43 CET | Business Wire | Press release
Tunstall Healthcare Group Limited, a leading telecare and telehealth provider based in the UK has announced today that it has finalised its acquisition of STT Condigi, a leading provider of technology and services to the elderly home care and nursing home markets in the Nordic region. Kristoffer Axelsson, the current STT Condigi CEO, will lead the combined Nordic business. Financial details of the transaction were not disclosed.
Headquartered in Malmo, Sweden STT Condigi has businesses in Sweden, Denmark and Finland as well as a growing export division. STT Condigi has been built from its suite of software services which are provided to local authorities and providers of care in the community which allow carer optimization, mobile planning, activity reporting and mobile alarm handling. In addition it offers a range of independent living products as well as communications systems for nursing homes.
Torbjorn Olsson (Investment Manager), of the majority shareholder of STT Condigi, the 6th AP Fund said, ‘’We are delighted to have completed the sale of STT Condigi to the Tunstall Group. The combined business will be able to continue providing innovative products and solutions to the Nordic countries and its customer base”. “The completion of the deal is a very positive move that is good for our business, employees and our customers,” said Kristoffer Axelsson, Chief Executive Officer of STT Condigi. “With the joining together of Tunstall and STT Condigi we will now be able to offer world class monitoring software and centres into which our applications will add extra services for our combined customer base.”
Gil Baldwin, Chief Executive Officer of Tunstall Healthcare commented “I am delighted that we have now closed the deal and we have been able to do this in a very short time span. We will now be able to combine STT Condigi’s strong track record of growth and innovation, along with Tunstall’s number on market position and ensure Tunstall Healthcare remains number one in the Nordic countries.”
Castlegreen Partners served as financial adviser and Linklaters Advokatbyrå Aktiebolag served as legal adviser to Tunstall. Danske Bank acted as exclusive financial adviser and Mannheimer Swartling Advokatbyrå Aktiebolag acted as legal adviser to the Shareholders of STT Condigi in this transaction.
About Tunstall
Tunstall is a leading provider of telecare/telehealth solutions. Operating in more than 30 countries and employing over 2,000 people, Tunstall supports 2.5 million people around the world. Tunstall's philosophy is simple - to protect, support and care for people - by providing healthcare technology and services that enable anyone requiring support and reassurance, such as older people or those with long term needs, to lead an independent life with dignity and reassurance.
Tunstall provides complete and fully-integrated telecare and telehealth solutions for home, assisted living and specialist care environments, hospital communication systems, associated support services, response centre software systems and monitoring services.
More information is available at www.tunstall.co.uk .
About STT Condigi
STT Condigi is a leading Nordic supplier of systems for safe, efficient care with a presence in the Nordics through wholly-owned subsidiaries and in Europe via a well developed distribution network. For more than 30 years, the company has developed its own products and complete solutions that streamline care work and provide care recipients with a higher level of safety.
STT Condigi has a broad range of skills and offers safety solutions for all types of residents, such as alarm systems for elderly residents in their own homes or complete internal systems for sheltered accommodation. They also offer ultra-modern equipment for alarm reception and advanced administrative systems for more efficient care. Their aim is both to increase safety for elderly and functionally-impaired people and to improve work conditions for care personnel, while also making care work more cost-effective.
STT Condigi has offices in Sweden (Malmö, Stockholm and Umeå), Denmark (Århus), Finland (Tampere) and in Spain (Madrid).
For more information, visit www.sttcondigi.com
Contact:
Tunstall Healthcare Group Limited
Alison Rogan
+44 1977
611234
tunstall@contextpr.co.uk
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