Patricia Industries comments on subsidiary Aleris’ divestiture of Aleris Care
Aleris announced today that it will divest its care operations, Aleris Care, to Ambea. The divestiture includes some 300 units with almost 6,000 employees in Sweden, Norway and Denmark. Aleris is one of Scandinavia’s leading healthcare and care companies and is a wholly-owned subsidiary of Patricia Industries, a part of Investor AB. Following the divestiture, Aleris will become a focused healthcare company.
Patricia Industries has supported the strategic review of its operations that Aleris’ management and board has conducted during the past year. This review has resulted in Aleris’ care and healthcare operations being run in two separate segments – Aleris Care and Aleris Healthcare.
As owners, we always evaluate how the individual companies can be best developed. Aleris Care, which offers high quality and has a high user satisfaction rate, can now develop further as a part of Ambea. At the same time, the divestiture enables continued specialization and focusing of Aleris’ healthcare operations. In addition, Aleris’ financial position will be strengthened as the net debt can be reduced considerably, by approximately SEK 2,650 m. For Aleris Care, reported EBITDA and EBITA amounted to SEK 163 m. and SEK 127 m. respectively for the 12-month period ending September 30, 2018.