Molnlycke shareholder Investor consolidates ownership

Molnlycke is to be consolidated as a subsidiary of industrial holding company Investor AB after it increased its stake in the healthcare firm.

Investor has agreed a deal to buy out Morgan Stanley Principal Investments' 34 per cent equity stake in Molnlycke, giving it 96 per cent control over the surgical and wound care company.

The transaction, which is due to close in the fourth quarter of 2010, has been agreed in response to Molnlycke's strong market position, recent growth and encouraging future prospects, according to Investor.

Molnlycke's chief executive officer Pierre Guyot expressed satisfaction with the way the firm has been supported by its owners in the last three years, while welcoming the new arrangement.

He added: "We are confident that we will be able to deliver on the many opportunities that we have in the pipeline to achieve high growth and profitability for many years to come."

Last month, the company announced the appointment of Marianne Dicander Alexandersson, chief executive officer of the national pharmacy chain in Sweden, as the newest member of its board of directors.