Who owns ATOS MEDICAL?

ATOS MEDICAL has been 100% owned by PAI PARTNERS since June 2016.

At what enterprise value was ATOS MEDICAL acquired in 2016?

During the acquisition of ATOS MEDICAL by PAI PARTNERS in 2016, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of ATOS MEDICAL when it was acquired by PAI PARTNERS?

The estimated EV/EBITDA multiple for ATOS MEDICAL is in the range of 10x - 18x.

When was ATOS MEDICAL acquired by PAI PARTNERS?

ATOS MEDICAL was acquired by PAI PARTNERS in 2016.

What was the revenue of ATOS MEDICAL at the time of the deal?

The revenue of ATOS MEDICAL at the time of the deal is estimated to be in the range of 100M - 200M EUR.

What was the EBITDA of ATOS MEDICAL during the acquisition?

ATOS MEDICAL's EBITDA is estimated to be in the range of 50M - 100M EUR.

How is the data for the ATOS MEDICAL acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ATOS MEDICAL deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.paipartners.com/mediaitem/pai-enters-into-an-agreement-to-purchase-atos-medical/

What is the average EV/EBITDA multiple for the Healthcare & Pharma sector in 2026?

The average EV/EBITDA multiple for the Healthcare & Pharma sector in 2026 is 14.3x.

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Home Database Healthcare & PharmaATOS MEDICAL

06/2016

ATOS MEDICAL acquired by PAI PARTNERS

SWEDEN Life Sciences / Medical Devices / Medical Consumables EV 500M - 1.5b EUR

Context

PAI Partners has entered into a definitive agreement to acquire 100% of Atos Medical from EQT. This secondary LBO represents the 10th investment of the PAI Europe VI fund and marks the exit of EQT, which had overseen a period where the company doubled in size within five years. The current management team, led by CEO Claus Bjerre, remains in place to lead the next phase of the company's development under PAI's sponsorship. The strategic rationale for the acquisition is centered on the underpenetrated nature of the global laryngectomy market and the scalability of Atos Medical's direct-to-consumer model. PAI intends to leverage its healthcare sector capabilities to accelerate the company's transformational strategy, focusing on increased R&D investment and a broader global sales footprint. The deal is underpinned by the target's exceptional financial performance, including a 30% revenue growth in 2015 and industry-leading margins.

ATOS MEDICAL, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the Healthcare & Pharma sector (14.3x).

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Target

Founded in 1986, Atos Medical is the global market leader in laryngectomy care, specialized in supporting patients living with a neck stoma. The company’s core business model focuses on restoring speaking ability and improving pulmonary health for patients who have undergone surgical removal of the voice box or tracheostomy procedures. Its value proposition is built on a unique direct-to-consumer (DTC) model, which accounts for approximately 50% of its laryngectomy revenues, ensuring personalized care and long-term patient engagement. Atos Medical’s strategy emphasizes clinical innovation and geographical expansion, providing high-quality medical consumables such as heat and moisture exchangers (HMEs) and voice prostheses. By diversifying into the tracheostomy segment through selective acquisitions, the company has established itself as a comprehensive Ear, Nose, and Throat (ENT) specialist. With a direct presence in 30 countries and a distribution network reaching ~90 markets, Atos Medical combines technical medical expertise with a patient-centric service layer to maintain industry-leading margins and high organic growth.

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Other operations with ATOS MEDICAL

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
11/2021	COLOPLAST	ATOS MEDICAL	SWEDEN	Medical Consumables

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 100M - 200M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ATOS MEDICAL by PAI PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: atos medical

Acquirer: pai partners