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Our approach > Case studies > Atos Medical

Applying a consumer mindset to healthcare

Applying a consumer mindset to healthcare

70-80%

Global market share

c. 90

Total countries

c. 50%

Direct-to-consumer share

Overview

  • Share

Key facts

Sector

Healthcare

Headquarters

Sweden

Investment date

July 2016

Ownership

95.7%

Exit date

January 2022

Learn More

In July 2016, PAI Partners completed the acquisition of Atos Medical, the global leader in laryngectomy products.

Atos Medical’s products help restore the ability to speak and improve breathing for people who have undergone total laryngectomy surgery (i.e. the removal of the larynx or “voice box”, most commonly due to laryngeal cancer).

Identifying transformation opportunities

PAI’s decision to acquire Atos Medical was driven by the strong conviction that the Firm’s deep expertise in the consumer sector could unlock significant value within the business.

Under PAI’s ownership, Atos Medical significantly accelerated its organic growth by investing in direct to consumer (DTC) channels, consumer-focused product innovation, whitespace opportunities and geographic expansion.

Growth was further supported by a targeted M&A strategy, including the acquisition of several distributors, as well as expansion into adjacent product categories.

Atos Medical’s transformation journey and strategic exit

As a result of these initiatives, Atos Medical more than doubled in size, becoming the global leader in supporting patients with a neck stoma and evolving into a diversified ENT specialist.

By the time of exit in 2022, more than 50% of the group’s sales were generated through the DTC channel, supported by distinctive sales and marketing capabilities within the medtech sector.

These capabilities were a core facilitator of Atos Medical’s strategic exit to Coloplast, a Danish multinational specialising in medical devices and services across ostomy, urology, continence and wound care.

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