Armada Fund V has closed its fifth investment and provided financing in support of the acquisition of Evondos Oy (“Evondos”) by Verdane (verdane.com). Evondos is a Nordic market leader of automated medicine dispensing services to professional home care providers. Its unique service provides quality and cost benefits for its customers and enables people in need of medical treatment to get the right medicine at the right time. The service is based on advanced technology and consists of automated medicine dispensing robots with a cloud-based control system and service elements. In addition to the acquisition financing, Armada is supporting the business with further growth capital.
“We are excited to support Evondos and have great confidence both in the company’s management and Verdane. Armada finds this an attractive investment opportunity given inter-alia the non-cyclicality of the underlying end-market with a first-mover advantage of Evondos in the Nordics, the strong and patented technology platform as well as significant organic growth potential”, commented Jan Wiklund and Ilkka Santti, both joint Managing Partners of Armada Credit Partners.
For more information, please contact:
Jan Wiklund (+46 70 551 4054) or Ilkka Santti (+358 40 7002876) at Armada Credit Partners.