Boreo acquires health technology company Delfin Technologies

Boreo Plc has on June 8, 2023 signed a share purchase agreement to acquire the entire share capital of Delfin Technologies Oy (“Delfin Technologies”, “Delfin” or “the Company”), from Tapani Lahtinen, the Company’s CEO Jouni Nuutinen and a group of private shareholders (“Sellers”). The Company will continue operating after the transaction as part of Boreo’s Electronics Business Area, led by Jouni Nuutinen.

“We are delighted to have been provided the opportunity to acquire Delfin Technologies and to partner with the management in the Company’s growth journey. Delfin Technologies is a company led by great people and has a track record of consistently generating high margins and strong returns on capital. Through its attractive positioning in the medical- and cosmetics device markets, Delfin has a sustainable long-term organic growth potential and offers us attractive re-investment opportunities going forward. The acquisition also paves the way for new acquisition opportunities in the medical device- and broader healthcare sector”, says Boreo CEO Kari Nerg.

Founded in 1998, Delfin Technologies is a health technology company that develops, produces and markets scientifically validated and specialized, hand-held skin and edema measurement instruments. Besides clinical use, Delfin’s products are used in medical and dermatological research, as well as in R&D, safety and performance validation of self-care and cosmetics products. The products for clinical applications have been approved for clinical use in the US and in EU. The company is serving its customers through distributors in more than 40 countries in selected geographies, main markets being the US, China and Europe.

Delfin has 9 employees with operations located in Kuopio, Finland. In FY 2022, the Company had revenues of c. EUR 2.5 million and a reported EBIT of c. EUR 1.1 million.

The closing of the transaction is expected to take place on July 1, 2023. Delfin Technologies will be reported under Boreo’s Electronics Business Area.

For more information, please visit www.boreo.com