Dignio acquires Canadian AceAge Inc. and strengthens its position in a growing market
About AceAge Inc.
AceAge is a Canadian health technology company that manufactures and sells intuitive health products. Karie, its medication dispenser, was launched in 2019 and is a pill dispenser that delivers, coordinates and reminds users to take their medication with the push of a button.
Dignio has completed the acquisition of AceAge, a leading manufacturer of medication dispensers, hence becoming fully integrated within electronic medication support and remote care. Through the acquisition, Dignio will strengthen its position as an innovator within health technology and deliver new and better solutions to its customers.
Dignio was founded in 2012 and has since been central in the Norwegian healthtech industry with its solutions for bringing healthcare into patients’ homes. Electronic medication dispensers have been a national recommendation in Norway since 2017 and Dignio already has close to 200 municipalities on its customer list.
“Electronic medication support contributes to a more sustainable healthcare system where patients can manage their own medication and stay home longer. For the patient, it provides freedom and a sense of achievement, while allowing the municipality to prioritize resources elsewhere”, says CEO and founder Lars Christian Dahle.
Electronic medication support contributes to a more sustainable healthcare system where patients can manage their own medication and stay home longer.
Last year, Dignio launched a new multi-dose dispenser produced by AceAge - now it’s acquiring the company to combine resources and know-how, with the aim of creating a leading manufacturer and distributor of software and medication dispensers globally. AceAge will continue to be based in Ontario, Canada, with its existing and new customers - but following the acquisition, Dignio will work closely with the management of AceAge to continue further product development.
Dahle says that the desire for further product development was central in the decision-making process.
“Dignio is one of AceAge's largest customers and we already collaborate closely on product development. An acquisition will make this process even more seamless, while also granting us control over the entire value chain, which will further strengthen Dignio’s position in the market.”
An acquisition will make this process even more seamless, while also granting us control over the entire value chain, which will further strengthen Dignio’s position in the market.
“The market for electronic medication dispensers is growing rapidly, and we see great potential for our products outside Norway's borders as well. Our supplier AceAge has been looking for new investors for some time, which gave us a unique opportunity to join the process”, says Dahle.
The investors have contributed to making the acquisition possible
Dignio completed a NOK 85 million capital raise in 2020, bringing onboard strong investors in Hugo Maurstad through Monte Rosa Capital, Investinor, Fredriksborg Investor and Swedish Stena Sessan. Now the same investors are securing the acquisition.
“We have followed Dignio closely since the investment in 2020 and have further confirmed the quality of the company and the underlying drivers in the market. As active owners, we have been deeply involved in the acquisition, which we believe is a strategically important and correct move. We look forward to supporting and working with the team at Dignio on this incredibly exciting journey”, says investment director at Monte Rosa Capital, Martin Haakonsen.
As active owners, we have been deeply involved in the acquisition, which we believe is a strategically important and correct move.
The chairman of Dignio, Sigvart Eriksen, has been closely involved in the process and has no doubt that this acquisition was the right direction for the company.
“The demand for electronic medication dispensers is high and Dignio has extensive experience in distributing this product. We are close to our customers and know which improvements are needed to simplify their daily tasks and to ensure patients always receive the right medication at the right time. The acquisition of AceAge will put us in an even better position to take significant market shares in both the short and long term.”
Dahle is very pleased to have investors who once again show that they have faith in the company.
Not every company is lucky to have investors who step in with even more funds before you have had time to prove the value of the money they have already invested.
“Not every company is lucky to have investors who step in with even more funds before you have had time to prove the value of the money they have already invested. This further proves that we got the right investors on the team, who believe in both us and our product”, concludes Dahle.