OSLO, NORWAY: Carasent ASA has acquired the Swedish company HPI Health Profile Institute AB (HPI), a leading provider of software solutions for occupational healthcare in Sweden.

Founded in Sweden in 1976, HPI provides software as a service solutions for digitalization of workflows for health profile services and medical check-ups and health assessments in working life. A vast majority of occupational healthcare providers in the Swedish market are on HPI’s customer list.

“We are very pleased to have completed this transaction. HPI Health Profile Institute has a strong reputation within the occupational care, a segment of great growth potential for Carasent moving foward. We are impressed by what the team at HPI has delivered so far and through previous partnership and integrations between HPI and Webdoc we have already seen great potential for synergies that we plan to develop further through this acquisition,” says Dennis Höjer, CEO of Carasent.

HPI has an attractive customer base of approximately 200 clients in Sweden and Norway with revenues of SEK 15.1m LTM September 2022 growing from SEK 10.6 million LTM September 2021. From the beginning of 2021, HPI strongly invested in the organisation and competence to enable further growth.

Hence, HPI’s EBITDA has been neutral since 2021. Through leveraging Carasent and HPI’s combined offering for the occupational healthcare, the Company aims to accelerate this growth going forward.

The transaction values HPI Health Profile Institute at an enterprise value of SEK 35 million including a contingent earn-out of up to SEK 13 million, based on the achievement of certain performance metrics in 2023. The initial purchase price is based on an upfront enterprise value of SEK 22 million less HPI’s consolidated net debt position of SEK 11 million.

Carasent ASA provides healthcare organisations with a seamless ecosystem of integrated software. The solutions significantly reduce administrative burdens and improve patient engagement and healthcare delivery. Carasent offers the most flexible clinical business support available in the Scandinavian market today, through its wide portfolio of products and services.

HPI Health Profile Institute is a market leader in Sweden within software for occupational healthcare practices. Their software solutions, for health profile services and workflow for medical check-ups and health assessments in working life, help healthcare providers digitize their work and increase efficiency. The company is situated in Stockholm and has 11 employees.