MedCap (MCAP) SEB Nordic Seminar presentation summary

Business overview and strategy

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

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

• Emphasizes decentralized ownership, local responsibility, and group support for subsidiaries.

• Targets small to mid-size businesses in Europe, with global add-ons and majority ownership.

• Prioritizes scalable business models, entrepreneurial management, and ESG principles.

Financial performance and targets

• Achieved LTM revenue of SEK 1,991 million and an EBITA margin of 17% as of Q3 2025.

• Five-year EBITA CAGR stands at 25%, with sales CAGR at 19%.

• Financial targets include >20% annual EBITA growth, >15% return on equity, and net debt/EBITDA below 3x.

• Excludes one-time effects in reported net sales and EBITA.

Business areas and market presence

• Assistive Tech accounts for 46% of sales, MedTech 33%, and Specialty Pharma 21%.

• Largest market is Sweden (45% of sales), followed by the Nordic region, Europe, and RoW.

• Portfolio includes brands in cognition, alarms, mobility, diagnostics, pharma, and contract manufacturing.