Moss, 23 August 2010 - The owners of Handicare signed a sales and purchase agreement with Nordic Capital Fund VII in June. Such an ownership change is subject to customary approval by relevant competition authorities.  In a recent decision the Dutch competition authority (the NMa) decided that a further market investigation is needed to assess Nordic Capital Fund VII’s acquisition of Handicare. The investigation is expected to conclude in the later part of this year, after which we expect to obtain a license to close the transaction.

- We understand that the NMa needs more time. Business will continue as usual and we will keep on working hard to serve our customers with innovative products and excellent service, making everyday life easier for our customers, says CEO Per Gunnar Borhaug at Handicare.

The background for the delay in merger clearance is another Nordic Capital fund’s holding in Swedish powered wheelchair producer Permobil. Handicare and Permobil would continue to be two independently operated companies after the intended transaction, but the NMa has decided to consider the two companies to be under joint control for merger filing purposes. Business will carry on as usual and Handicare will maintain the strategy to offer customers and end users high quality mobility solutions.

For more information, please contact:
Per Gunnar Borhaug, CEO Handicare, +47 69244514
Rens Schoenmakers, Managing Director Mobility Handicare, +31 492 593 886