Permobil looks to boost European manual wheelchair portfolio with acquisition of Progeo
Mobility manufacturer Permobil has entered into an agreement to acquire Progeo, an acquisition which promises to help strengthen its presence in the Italian market while improving its portfolio of manual wheelchairs in Europe.
Boasting a turnover of €10 million, Progeo has a strong position in Italy where it develops and produces advanced manual wheelchairs, while Permobil is a global provider in advanced medical technology and known for its innovative healthcare solutions.
Bengt Thorsson, CEO of Permobil commented: “With the acquisition of Progeo, Permobil significantly increases its presence in the manual wheelchair segment in Europe.
“Progeo’s products will be available to users in more countries at the same time as this deal increases the possibility to offer Permobil´s product range in Italy.
“I’m proud to welcome Progeo, with their expertise within complex rehab and unique wheelchairs designed to represent the personality of the users, to Permobil.
“This is an important step in our overall strategy of developing the next generation of advanced assistive technology and services for individuals.”
Luciano Nosella, co-founder of Progeo said that he believes the joining of the two companies is the “perfect match”. He said: “Progeo and Permobil share a long-standing tradition of offering innovative solutions by always putting the individual first.
“The manual wheelchairs from Progeo will now be available throughout Europe thanks to Permobil’s direct sales presence in many countries.”
Markus Mauer, Permobil Regional President Europe added: “With Progeo on board we see great opportunities in complementing our manual wheelchair offering with ultralight manual wheelchairs and carbon fibre models in Europe.
“Progeo is known for its high-quality products, careful selection of materials, and moreover, showing respect and consideration to the individuals who use the products.
“This goes hand-in-hand with the values of Permobil. We look forward to continuing the innovation journey with our users in focus.”
The transaction is expected to close in June, subject to regulatory approvals. The parties have chosen not to disclose the terms of the transaction.
Check out Permobil’s THIIS Connect listing to find out more about the powerchair specialist.
