In June 2021, TA Associates, a global private equity firm, announced a strategic growth investment in Elos Medtech, a leading contract development and manufacturing organization (CDMO) in the global medical device market. The transaction was completed in July 2021, and TA Associates became the majority shareholder (73.1%) of Elos. Elos Medtech is a full-service CDMO partner, offering complete performance and vertical integration to leading medical device companies worldwide. The company serves the dental, orthopaedic, and life science markets, with a focus on sustainable and innovative medical supply solutions. Elos has facilities in Sweden, Denmark, China, and the US, and employs over 650 people.
Medical Device CDMO / Components EBITDA Multiples
According to the press release, the purchase price was 215 SEK per share for 73.1% of the shares, implying an enterprise value of $2.18b SEK (converted to ~$252.7m USD at 1:0.1159). According to the financial statements, Elos generated 723.6m SEK of revenue and 156.6m SEK of EBITDA in 2021, implying multiples of 3x revenue and 13.9x EBITDA. The rest of Elos' historical financial statements can be found here.
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details for 258 medical device deals going back to 2010, 132 of which include reported EBITDA multiples. The medical device M&A deals can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
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