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M&A

HASELMEIER

Acquired by

SULZER

SWITZERLAND Life Sciences EV [100m EUR - 500m EUR] 10/2020

Target

HASELMEIER

Acquirer

SULZER

Context

Sulzer has completed the acquisition of Haselmeier, integrating the drug delivery specialist into its Applicator Systems (APS) division. The transaction was structured to acquire 100% of the privately held Swiss-German company, allowing Sulzer to immediately scale its healthcare business and leverage Haselmeier’s significant portfolio of proprietary intellectual property.The strategic rationale for this acquisition is centered on technical synergy and market expansion. By combining Haselmeier’s competence in self-injection devices with Sulzer’s existing expertise in precision injection molding and liquid mixing, the group intends to accelerate the development of innovative and differentiated medical devices. This move allows Sulzer to pivot its APS division toward the high-growth pharmaceutical market, particularly in indications requiring frequent subcutaneous injections. The integration is expected to yield substantial cost synergies through the insourcing of manufacturing processes and the utilization of Sulzer’s global industrial infrastructure.

Target

Founded in the 20th century, Haselmeier is a leading Swiss-German developer and manufacturer of innovative drug delivery systems, specializing in subcutaneous self-injection devices. The company operates a high-value business model centered on proprietary intellectual property (IP), providing customized solutions such as injection pens for fast-growing medical indications including diabetes, reproductive health, growth disorders, and osteoporosis. Its value proposition lies in its end-to-end service offering, covering the entire product lifecycle from initial design, prototyping, and engineering to industrial-scale production in modern manufacturing facilities. Haselmeier’s strategy emphasizes being a reliable development partner for pharmaceutical companies, offering additional services such as lifecycle management, pharmaceutical packaging, and regulatory support. By focusing on patented platform technologies for injection devices, the company ensures the safe and precise self-administration of liquid drugs, catering to the increasing global demand for home-based healthcare and patient-centric delivery solutions.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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EBITDA
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2020
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2019
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Other operations with HASELMEIER