MedCap (MCAP) Company presentation summary

Business overview and strategy

• Focuses on life science with three main business areas: Assistive Tech, MedTech, and Specialty Pharma.

• Employs a buy & build strategy, serving as a long-term home for well-run companies.

• Operates with a decentralized model, emphasizing local responsibility and brand integrity.

• Targets small to mid-size businesses in Europe, with majority ownership and no set exit horizon.

• Seeks scalable businesses with strong management, clear value propositions, and M&A potential.

Financial performance and targets

• Achieved SEK 1,789 million in revenue and a 29% EBITA CAGR over the past five years.

• Maintains an EBITA margin of 18.5% and targets annual EBITA growth above 15%.

• Return on equity target is above 20%, with net debt/EBITDA below 3x.

• Sales CAGR over five years is 19%, with consistent growth in both sales and EBITA.

• Tracks performance through organic and acquisition-driven sales growth, profit margins, and capital efficiency.

Market positioning and trends

• Operates in non-cyclical, demographically driven markets with niche opportunities and market share potential.

• Addresses healthcare trends such as digitalization, telemedicine, aging population, and pharmaceutical shortages.

• Sales are geographically diversified: 50% Sweden, 25% Nordic, 21% Europe, 4% Rest of World.

• Business areas are balanced: 41% Assistive Tech, 34% MedTech, 25% Specialty Pharma.