CareTech acquires Swedish company and strengthens management.

CareTech AB, developing and selling social alarm systems internationally, has acquired Triator Care AB, strengthening its coverage in Southern Sweden.

Magnus Ekqvist is furthermore appointed Acting CEO of CareTech AB as of 1 April 2011. CareTech´s current CEO, Arto Brushane, who has led the company since 2007 (in which period CareTech grew by 90 %) will as remain CEO until Magnus Ekqvist takes office.

Magnus Ekqvist has previously been a board member of CareTech as well as CEO of Sirius Humanum AB, a company in the care sector. Prior to this he has been with renowned Swedish private equity firms, including Verdane Capital, the majority owner of CareTech.

Triator Care AB has two offices in Southern Sweden and is lead by Johnny Isacsson who also has taken a part ownership in CareTech AB.

In Germany, Dietmar Gottschalk, currently General Manager (Geschäftsleiter) of CareTech´s German subsidiary, has been appointed Managing Director (Geschäftsführer) of CareTech GmbH, in Glashütten.

“We believe that these reinforcements strengthen the CareTech business for future growth. Magnus Ekqvist´s experience from the care sector as well as the acquisition provides additional confidence to move on with our growth strategy. CareTech has a strong and innovative product range with, amongst other features, both gsm and IP functionality which offers care providers new solutions as traditional analogue alarms are phased out in order to raise security levels in older persons’s care”

CareTech had a turnover of € 8 million in 2010 including Triator Care, with circa 50 employees, with product and sales centres in Kalix and Falun in Sweden.

Further information can be provided by CareTech´s Chairman, Bo Kastensson, phone +46 (0)708-765 995.

Stockholm 7 March 2011

CareTech AB

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