Estonia, EU – Baltic States, Investments, Legislation, Markets and Companies, Medicine, Mergers and take-overs

Tarmo Laanetu, Südameapteek chain's previous owner, remains a minority shareholder, owning 30% of the shares in AB Pharmaswed (Südameapteek owner company). No management changes will take place, Tarmo Laanetu will continue as Chairman of the Council and Mart Mägi as Chairman of the Board.

Oskar Svensson is Runsvengruppen AB former Chairman of the Board and current Chairman of the Council. The company is a market leader in Sweden in the segment of household consumer goods, owning 100 stores and having annual turnover of more than SEK 4 billion.

"For Südameapteek, the transaction creates a strong competitive advantage at today's changing pharmacy market. This will boost our confidence and financial strength, in order to expand to the Baltic and Nordic pharmaceuticals market, and to find additional sources of growth in the healthcare sector. Oskar Svensson is a highly experienced investor who has a thorough knowledge of the retail sector, "said Tarmo Laanetu.

Oskar Svensson commented on the acquisition of a majority stake, saying that the investment is an important step in his investment portfolio.

Südameapteek chain includes 68 pharmacies and employs 285 workers.