Aleris reaches agreement to acquire Proxima

Aleris, an operating subsidiary to Investor (STO:INVEA)(STO:INVEB)(LSE:INU), has reached an agreement to acquire Swedish healthcare provider Proxima Intressenter AB for an enterprise value of SEK 1,080 m. The acquisition will be financed by Investor and external debt. Investor will provide approximately SEK 750 m. in equity.

For 2011, Proxima's annual revenue is estimated at SEK 1.0 bn. and EBITDA at approximately SEK 95 m. Synergies generated by the combination of the two companies are estimated at a total SEK 30 m., of which approximately SEK 20 m. with full effect by the end of 2012.

"The acquisition of Proxima is strategically important for Aleris as it strengthens our position in the Swedish and Nordic markets. Through the acquisition, we broaden our offering in specialist care and strengthen our positions within primary care and local health care services. Proxima also adds new competencies in terms of primary care rehabilitation and occupational health. We are looking forward to further developing the company in close cooperation with its management and employees", comments Stanley Brodén, CEO of Aleris.

The transaction is subject to approval from relevant competition authorities, which is expected during the second quarter.