EQT deals Atos Medical to PE shop for $946m

(Reuters) — Swedish buyout house EQT said yesterday that it sold its medical device business, Atos Medical, to private equity firm PAI Europe, with sources valuing the deal at about €850 million ($946 million).

PAI Europe won the bid for Atos, which makes voice implants, EQT said in a statement, but the 2 parties agreed not to disclose the transaction value.

People familiar with the matter told Reuters that the Swedish company had been valued at about €850 million during the negotiations.

Last year, Atos reported 30% growth in revenue to 1 billion Swedish crowns ($120,000) and 2016 earnings before interest, tax, depreciation and amortization (EBITDA) are expected to come in at €60 million, against about €40 million last year.

($1 = 8.3420 Swedish crowns)

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