Molnlycke Health Care preparing for UK float

Sweden-based Molnlycke Health Care is preparing to float on the stock market in the UK later this year, the Daily Telegraph reports.

According to the paper, the company, which specialises in dressing serious wounds, expects a valuation of up to 1 billion euros (?685 million).

There was no comment by private equity Apax, who own Molnlycke, but it is thought it is in talks with investment bankers about handling the flotation.

In 2005 the company reported first quarter profit of SEK 98.4 million from net sales of SEK 1,113 million

The Molnlycke Health Care Group AB was founded in July 2005 when Apax Partners acquired Molnlycke Health Care. The group consists of a combination of three international companies in the pharmaceutical and medical device industry – Regent Medical, Medlock Medical and Molnlycke Health Care.

© Adfero Ltd