Altor sells Ferrosan Consumer Health to Pfizer Inc.


Feb 07 2011

Altor has signed a definitive agreement to sell Ferrosan Consumer Health (“FCH”), a leading science-based consumer health company in the Nordic region, to Pfizer Inc. (“Pfizer”).

Founded in 1920, Ferrosan is a consumer health company with a long-standing pharmaceutical heritage. With its global headquarters located in Soeborg outside of Copenhagen, Ferrosan today employs c. 750 people. Since the investment by Altor in 2005, the EBITDA of Ferrosan has increased from DKK 147 million to DKK 302 million in 2010, an average annual increase of 15%.
Ferrosan’s portfolio of products include Multi-tabs®, the popular multivitamin brand, Bifiform®, a leading probiotic, Fri Flyt/Active Omega-3, an omega-3 product, and IMEDEEN® premium oral skincare brands. These Ferrosan brands are among the top-selling products in their respective categories throughout the Nordic countries, as well as in Russia, the Ukraine and many countries in Central and Eastern Europe. Fredrik Strömholm, Joint managing partner at Altor Equity Partners, comments: “During the last six years, Ferrosan has accelerated growth and increased profitability by focusing on key brands in core markets, improved operational efficiency and reorganized governance structure, including the legal separation of FCH and FMD. In addition, the product portfolio as well as production and distribution capabilities have been expanded through selective acquisitions. I am convinced that Pfizer is well placed to develop the full potential of FCH’s brands. Ferrosan has delivered very strong results over the past six years, and we have every confidence that FCH will contribute greatly to Pfizer Consumer Healthcare in the future.”

Commenting on Altor’s continued involvement in Ferrosan Medical Devices, Mr. Strömholm adds: “We are also very happy to maintain our involvement in FMD, which is expected to see significant growth from the launch of its second-generation haemostat products. With a dedicated focus on product development, FMD will continue to build on its partnership with Ethicon to further accelerate the development of value-adding products that support surgeons and nurses in the operating room.”

Ola Erici, President and CEO of Ferrosan, comments: “Ferrosan has successfully expanded its Consumer Health business over the past years under strong support from Altor. With Pfizer as a new owner, we will now be able to take our core brands, such as Multi-tabs®, Bifiform® and Imedeen® to more countries and at the same time increase product offerings in our existing markets. We believe that being part of Pfizer going forward will further contribute to our positive development, and will enable us to serve our customers even better.” Henrik Krøis, Managing Director of Ferrosan Medical Devices, comments: “We look forward to develop FMD under the continued ownership of Altor, which I see as recognition of the diligent work done in recent years and a confirmation of the strong belief in the continued growth of the business. We have a strong commitment to our partnership with Ethicon and the new structure will strengthen our ability to focus on pursuing the opportunities ahead.”
The transaction is expected to close within the second quarter of 2011 subject to customary closing conditions.
Goldman Sachs International has acted as financial adviser and Sullivan & Cromwell LLP and Plesner Advokatfirma as legal advisors.

For inquiries please contact:

Altor Equity Partners:
Fredrik Strömholm, Joint managing partner, Altor Equity Partners (+46 73 07 99105)

Ola Erici, President and CEO, Ferrosan (+45 39 69 21 11)

Ferrosan Medical Devices:
Henrik Krøis, Managing Director, Ferrosan Medical Devices (+45 39 58 57 41)

About Altor
The Altor funds (“Altor”) are private equity funds comprising the “Altor 2003 Fund”, with committed capital of EUR 650 million, the “Altor Fund II”, with committed capital of EUR 1,150 million and also the “Altor Fund III”, with committed capital of EUR 2,000 million. Altor is advised by Altor Equity Partners. Altor invests in companies in the Nordic region with a focus on value creation through growth initiatives, strategic development and operational improvements and has since its inception in 2003 invested in 27 platform investments and more than 30 add-on acquisitions.

About Ferrosan Consumer Health
Ferrosan was founded in 1920 and has a long-standing pharmaceutical heritage. Headquartered in Copenhagen, Ferrosan Consumer Health, today employs c.640 people and is engaged in the sale of science-based consumer healthcare products primarily in the Nordic region and the emerging markets of Russia and Eastern Europe. FCH offers a focused product portfolio of well-established brands including Multi-tabs®, the reference product in the multivitamin segment in the Nordic region, Bifiform®, a market-leading fast growing probiotics product range, Fri Flyt®/Active Omega-3®, a premium product range addressing the omega-3 market for heart and joint health, and Imedeen®, the global leader within oral skin care.

About Ferrosan Medical Devices
FMD is a world leading provider of gelatine-based topical absorbable haemostatic products. Key products are Spongostan® / Surgifoam® (a gelatine-based absorbable haemostat also offered in powder form) and Surgiflo® (a prefilled, flowable haemostat). FMD operates under a global partnership agreement with Ethicon (Johnson & Johnson), the global leader within the human surgical supplies market. Production is located in Søborg outside Copenhagen and the company employs c. 110 employees.

About Pfizer
Pfizer applies science and its global resources to improve health and well-being at every stage of life. Pfizer strives to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Pfizer’s diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with its responsibility as the world’s leading biopharmaceutical company, Pfizer also collaborates with healthcare providers, governments and local communities to support and expand access to reliable, affordable healthcare around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on it. To learn more about its commitments, please visit Pfizer at

Press contact

Tor Krusell

Head of Communications

+46 705 43 87 47



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