Nordic growth investor Standout Capital together with the other owners of Axel Health, have entered into an agreement to sell their shares to Legrand Care, a division of Legrand. The acquisition strengthens Legrand’s position in healthcare technology solutions, adding Axel Health’s leading patient flow management platform to its portfolio.
Standout Capital invested in Axel Health in May 2019 and has throughout the holding period actively supported the company’s transformation from a Finnish software provider into becoming the Nordic leader in patient flow management. This has been made possible through professionalising the organisation, broadening the product suite, expansion into the Swedish market with customers including Aleris and several Regions including Västernorrland, Västra Götalandsregionen and Stockholm. Axel Health has delivered consistent, profitable growth with strong customer retention and recently also acquired Unitary Healthcare, adding patient transfer management to the portfolio.
“Standout has been an outstanding partner over the past seven years. They’ve been supportive, professional, and at times challenging with their approach. They helped us to build a winning organization.” says Ilari Laaksonen, CEO of Axel Health.
“It has been a joy to work with the team at Axel Health and we are immensely proud of supporting the company’s disciplined and focused execution of a clear strategy from day one. The growth (recurring revenues 3x, EBITDAC 4x) that the company has achieved in a sector that has endured massive budget constraints is a testament to the value of their offering.” says Erik Wästlund, Co-founder of Standout Capital.
Axel Health was advised by MCF Corporate Finance and Avance Attorneys.
About Axel Health:
Founded in 2008, Axel Health provides digital solutions aimed at improving healthcare and enhancing patient experience. Their suite with patient flow management solutions (PFM) supports organisations in health and social care with a patient self-service platform that streamlines the patient journey (Axel Encounter), an automated scheduling solution that optimises resource allocation (Axel Planner), and a coordination system that ensures safe and efficient patient transfers within healthcare units (Uoma). Axel Health has built a leading position in Finland and Sweden.
Press contacts
Standout Capital
Erik Wästlund
Co-founder
erik.wastlund@standoutcapital.com
+46 70 755 79 69
Axel Health
Ilari Laaksonen
CEO
ilari.laaksonen@axelhealth.com
+358 40 555 18 27