BREAKING: Savaria officially acquires Handicare as it confirms mobility industry mega-merger
A new global leader in accessibility has now been created after multinational mobility and accessibility manufacturer Savaria confirmed that it has completed its successful acquisition of Swedish stairlift giant Handicare Group.
The offer, which was announced last month, has been officially accepted by shareholders and represents 95.2 per cent of the total number of outstanding shares and votes in Handicare.
The acquisition of a top stairlift manufacturer represents a unique opportunity for Savaria. Handicare produces over 45,000 stairlifts annually, bringing an innovative new product line to complement its elevator and wheelchair platform lift portfolio.
CEO and President of Savaria Marcel Bourassa said: “It is with great pleasure that I welcome the 940 employees of Handicare to the Savaria family.
“In math, we learn that one plus one equals two. But in life, sometimes it can be different. Savaria with Handicare will demonstrate that one plus one is greater than two.
“Together, we can achieve more; serving more customers, with more products, into more markets and with the best customer service.
“Our synergies are evident today and will build powerfully in the coming months and years. Thank you to all employees for their ongoing support and a special thank you to our acquisition team, and financial and legal partners, for their tireless work to complete this historical transaction.”
Commenting on the acquisition, Clare Brophy, Handicare Accessibility, Vice President Commercial, exclusively told THIIS Magazine: “This exciting acquisition creates a global leader in our sector. Combining the expertise of Handicare and Savaria means our partners will continue to benefit from high quality, innovative and reliable products and services.
“We will continue to work with our loyal partner network as we embark on this exciting new chapter and look forward to working with our Savaria colleagues with whom we have a shared vision to make everyday life easier for people in later life.”
Henrik Teiwik, President and CEO Handicare Group stated: “This is a new milestone for Handicare and in line with our strategic direction to develop into a more complete homecare accessibility company.”
A dominant and rapidly expanding player in North America, Savaria Corporation is a global leader in the accessibility industry, providing accessibility solutions for the physically challenged to increase their comfort, mobility and independence.
Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use.
It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients. In addition, Savaria converts and adapts vehicles to be wheelchair accessible.
Savaria operates a sales network of dealers and direct sales offices worldwide and employs approximately 1,400 people globally, including those at its plant in Newton Abbot, Devon.
