A.P. Møller has entered into an agreement on sale to Nordic Capital of Maersk Medical A/S. The sale is among other subject to government approvals, which are expected within the next couple of months. Operation in Maersk Medical A/S will continue unchanged under present ownership until then.


Nordic Capital, who is amongst the largest equity funds in the Nordic countries, intends to continue to develop the business of the company. Reference is made to the attached press release of today.


The purchase price is not disclosed. Aktieselskabet Dampskibsselskabet Svendborg and Dampskibsselskabet af 1912, Aktieselskab, which each own 48% of Maersk Medical A/S, will realise a small profit on the sale. The sale does not change previously published expectations for the result 2002.


For more information please contact Executive Vice President, CFO Eivind Kolding tel.: +45 3363 3680.



Press Release:


Nordic Capital acquires Maersk Medical A/S


A.P. Møller has signed a definitive agreement to divest its subsidiary Maersk Medical A/S to Nordic Capital. The transaction is subject to governmental approval.


Maersk Medical is one of Denmark’s leading med-tech companies. Maersk Medical develops, produces and markets sterile single-use medical devices to the health care sector. The products are primarily used in hospitals’ operating rooms and intensive care units, but also within the home care market and among general practitioners.


The company has experienced rapid growth in the last 10 years and is today a global player with production facilities in Denmark, UK, Belarus, Malaysia, Singapore, Australia and Mexico. Maersk Medical sells its products worldwide through sales companies in 12 countries including the USA, and through independent distributors in all other major markets.


Maersk Medical employs 4,500 people worldwide. The headquarters are located in Lynge, Denmark. Total turnover for 2002 is expected to reach approximately DKK 1.9 billion.


The company has achieved its leading position through a continuous effort to focus and optimize production and product development, and is recognized as a state-of-the-art manufacturer. The product portfolio includes disposable medical devices such as catheters, surgical aids, drainage bags, electrodes, wound care products and infusion devices. One of the product areas where Maersk Medical has experienced substantial growth in recent years is insulin infusion devices for diabetics using insulin pumps. Insulin pump therapy represents a steadily increasing share of the diabetes market and Maersk Medical is today the market leader in insulin infusion sets.


The demand for Maersk Medical’s products is growing driven by demographical trends and increasing requirements with regard to cost efficiency and patient safety. To enhance Maersk Medical’s competitive position consistent quality and cost effectiveness are highly prioritized. Maersk Medical’s leading position and effectiveness have made it a natural business partner for other med-tech companies looking to outsource parts of their production. In the coming years this area is expected to provide further growth for Maersk Medical.


Eivind Kolding, CFO, A.P. Møller says: “We are pleased with this divestiture to Nordic Capital and we are confident that Nordic Capital has the appropriate competence and experience to continue the positive development of Maersk Medical.”


Bo Söderberg, Partner, Nordic Capital comments: “Nordic Capital will continue to strengthen and develop Maersk Medical’s profile as a successful and leading manufacturer of single-use medical devices. The future focus will be on further strengthening innovation and product development as well as strengthening the company’s customer relations. In addition to increased organic growth, we will search for add-on acquisitions within certain chosen segments.”


Remy Cramer, CEO, Maersk Medical says: “We are happy that the future ownership of Maersk Medical now is determined. This is positive both for the company, its employees and our relations with customers. Nordic Capital is known as a competent and responsible owner, and management and employees look forward to continuing the company’s positive development.”


For more information, please contact:


Nordic Capital
Bo Söderberg
+46 705 169 401
+46 8 440 5050


A. P. Møller
Eivind Kolding
+45 3363 3680


Maersk Medical A/S
Remy Cramer
+45 4816 7001


Nordic Capital is a leading private equity firm active in the Nordic region and has since its start in 1990 made 49 acquisitions with a total turnover of € 7.8 billion including add-on acquisitions. Previous acquisitions include Biovitrum, Nybron Flooring International, Ahlsell, Nycomed Pharma, Sonion, Wilson Logistics, Mölnlycke Health Care, Fritidsresegruppen and Intentia. Nordic Capital’s primary investment philosophy is to focus on new industrial combinations and developments together with the present management teams. Investors in Nordic Capital are a number of well known Nordic, and international institutions.