Evondos secures €42M loan for global expansion plans
Evondos, the leading provider of automated medicine dispensing services in the Nordics, has secured a €42M loan from funds managed by the BlackRock Private Credit platform, in support of its global growth plans. The company continues to enjoy robust growth. Its 2021 revenue was, up by 48% from the previous year.
Eetu Koski, CEO of Evondos, commented:
“This milestone agreement enables Evondos to implement its ambitious international growth strategy and develop its technology infrastructure. We are delighted that BlackRock shares our vision to improve patient safety, medical adherence and provide greater support for independent life at home.”
Powered by advanced technology and a cloud-based telecare system, Evondos’s unique service helps municipalities and professional home care organizations reduce the number of home care visits needed to deliver medication to patients. This frees up valuable nursing time for healthcare professionals to focus on urgent patient care. An aging population combined with a shortage of nursing staff is a global challenge that most developed countries are now facing and a pressure point that the Evondos platform can help resolve.
Stephan Caron, Head of European Private Debt at BlackRock, commented: ”Evondos is an ambitious healthcare technology company delivering an innovative and effective solution, and we are delighted to be helping them expand their global footprint. This deal highlights BlackRock’s strong deal sourcing capabilities across the Nordics and our growing presence in the region in private debt.”
Evondos is the leading provider of automated medicine dispensing services in the Nordics. Evondos’ unique service provides significant quality and cost benefits for professional home care organizations. The service enables people in need of medical treatment to get the right medicine at the right time and in the right dose automatically, which improves patient safety, medical adherence and supports independent life at home. The service is based on advanced technology and consists of an automatic medicine dispensing robot installed in private homes, with a cloud-based control system and service elements. Today the service is in use in nearly 300 home care organizations in the Nordics. Evondos currently employs more than 150 people in Finland, Sweden, Norway and Denmark. Evondos’ headquarters and production facilities are located in Salo, Finland.
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Notes to editors:
This transaction does not impact Evondos’s current ownership. Verdane Funds remains the main shareholder of this company.