What MedCap does

MedCap AB (publ) is a Swedish life science investment company headquartered at Engelbrektsgatan 9-11, Stockholm, publicly listed on Nasdaq Stockholm in the Mid Cap segment under the ticker MCAP. Originally founded in 2005 as New Science Svenska AB, the company operates as an active long-term owner that acquires and develops operating businesses across three business areas: Assistive Tech (Hjälpmedel), Specialty Pharma (Specialistläkemedel), and MedTech (Medicinteknik). The portfolio comprises roughly 13 wholly-owned subsidiaries including Abilia, Trident, Huka, Erimed, Danrehab and Swedelift in assistive technology; Unimedic and XGX Pharma AS in specialty pharmaceuticals; and Biopsafe, Cardiolex, Inpac, Multi-Ply and Toul Meditech in medical technology.

MedCap's revenue is generated through the operating activities of these portfolio companies, rather than from direct product sales by the parent. Notable revenue drivers include Unimedic, a GMP-certified contract manufacturer of liquid pharmaceuticals serving large international pharmaceutical customers (including Pfizer, Merck NM, Schering, Fresenius Kabi, Meda, ACO and Recip), and the MedTech portfolio which spans biopsy-handling consumables, ultra-clean surgical air equipment, cardiology devices, and pacemaker/ICD management products. MedCap's go-to-market is effectively an acquisition-led strategy: management has consistently pursued tuck-in M&A - including Biopsafe (2026, 115 MDKK), Danrehab (2025), SurgiCube and Toul Meditech (2023, EUR 6 million plus earn-out) - funded by a strong balance sheet and low debt levels, supplemented by organic growth within subsidiaries.

MedCap is owned by Linc, a Swedish life science investment company, and serves institutional and retail public-market investors via its Nasdaq Stockholm listing. The company combines the operating leverage of a public holding with the entrepreneurial agility of small operating subsidiaries, positioning itself as a niche consolidator in Nordic and broader European life sciences rather than as a single-product technology company. Q2 2026 results showed revenue of 606.3 million SEK (+16% year-over-year), adjusted EBITA of 124.5 million SEK (+28%), and EBITDA margin expansion to 20.5% from 18.7%.

Name

MedCap

Legal name

MedCap AB

Website

http://www.medcap.se

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

MedCap is a Swedish publicly-listed life science investment company that acquires and develops operating businesses across Assistive Tech, Specialty Pharma, and MedTech, serving healthcare and life science end-markets through approximately 13 wholly-owned subsidiaries.

Ownership category

akta.pro rank

Product category

Life Sciences Investment Holding

NAICS

Pharmaceutical Preparation Manufacturing (325412), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)

SIC

Pharmaceutical Preparations (2834), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

Keywords

• Life science investment
• Medical technology portfolio
• Assistive technology products
• Specialty pharmaceuticals
• Healthcare investment holding

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment returns and portfolio company operations: MedCap generates returns through acquiring and developing portfolio companies in life sciences. Revenue comes from the operations of its subsidiaries across three business areas: Assistive Tech, MedTech, and Specialty Pharma.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

MedCap AB is a publicly listed Swedish investment company that acquires, owns and develops operating subsidiaries within life sciences. It operates three business areas: Assistive Tech (Hjälpmedel) comprising Abilia, Trident, Huka, Erimed, Danrehab and Swedelift; Specialty Pharma (Specialistläkemedel) comprising Unimedic and XGX Pharma AS; and MedTech (Medicinteknik) comprising Biopsafe, Cardiolex, Inpac, Multi-Ply and Toul Meditech.

Product overview

MedCap is a Swedish life science investment company that operates a portfolio of acquired subsidiary companies organized across three business areas: Assistive Tech (Hjälpmedel), Specialty Pharma (Specialistläkemedel), and MedTech (Medicinteknik). The Assistive Tech segment includes Abilia, Trident, Huka, Erimed, Danrehab, and Swedelift. The Specialty Pharma segment includes Unimedic and XGX Pharma AS. The MedTech segment includes Biopsafe, Cardiolex, Inpac, Multi-Ply, and Toul Meditech. MedCap functions as an active long-term owner, uniting the strengths of a larger company with the entrepreneurial power and agility of its smaller subsidiary companies.

Differentiator

Problem solved

Functional benefit

Brands

• Hjälpmedel: Assistive technology business area of MedCap comprising companies like Abilia, Trident, Huka, Erimed, Danrehab, and Swedelift
• Specialistläkemedel
• Medicinteknik

Products and services

• Abilia Provides assistive technology solutions for individuals with special needs, enabling them to complete education and participate in the labour market. Part of MedCap's Hjälpmedel (Assistive Tech) business area.
• Trident Assistive technology product within the Hjälpmedel (Assistive Tech) business area.
• Huka Assistive technology product within the Hjälpmedel (Assistive Tech) business area.
• Erimed Assistive technology product within the Hjälpmedel (Assistive Tech) business area.
• Danrehab Rehabilitation products within the Hjälpmedel (Assistive Tech) business area.
• Swedelift Lifting and transfer equipment within the Hjälpmedel (Assistive Tech) business area.
• Unimedic Contract manufacturer of liquid pharmaceuticals operating under GMP certification; one of the few independent GMP-certified pharmaceutical producers in the Nordic region, serving customers including large international companies such as Merck NM, Pfizer, Schering, Fresenius Kabi, Meda, ACO and Recip.
• XGX Pharma AS Pharmaceutical product within the Specialistläkemedel (Specialty Pharma) business area.
• Biopsafe Provides an innovative container for safer handling in biopsy procedures; revenue approximately 50 MDKK with sales across several European markets. Part of MedCap's Medicinteknik (MedTech) business area.
• Cardiolex Cardiology medical devices within the Medicinteknik (MedTech) business area.
• Inpac Produces and packages probiotic medicines and dietary supplements; operates with employees from Samhall and was recognized as Employer of the Year at the Show the Way (Visa vägen) Gala.
• Multi-Ply Surgical medical technology products within the Medicinteknik (MedTech) business area.
• Toul Meditech Products focus on providing ultra-clean air for surgical procedures, primarily in Europe; acquired by MedCap in 2023 for approximately 6 million euros including an earn-out of up to 2 million euros. Last year's sales were approximately 3.7 million euros.

Quantifiable outcome

• Revenue growth of 16% to 606.3 million SEK in Q2 2026
• +2 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• SamhallcoreStrategic or Co-development Partner · 22 November 2021MedCap subsidiary Inpac works with Samhall, where employees from Samhall work side by side with the company's own employees. This partnership provides employment opportunities for people with disabilities and contributes to inclusion in the labour market.
• WhistleBminorImplementation/ SI/ Consulting PartnerThird-party whistleblower reporting channel managed by WhistleB, allowing anonymous messaging and dialogue. WhistleB ensures anonymity and is separate from the organisation's IT environment.

Scale indicators13 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Lifco AB: Swedish listed serial acquirer of profitable niche industrial and healthcare businesses. Highly comparable to MedCap's holdco model: small-to-mid-sized operating companies, decentralized leadership, long-hold strategy, and active M&A pipeline — but with broader industrial exposure.
• Indutrade AB: Swedish listed serial acquirer of technical industrial and medical-technology businesses. Closely comparable acquisition strategy (decentralized subsidiaries, decentralized P&L responsibility, perpetual-hold model), with overlapping MedTech exposure.
• Recipharm AB: Swedish-headquartered CDMO with liquid, semi-solid and specialty pharma manufacturing. Most direct comparable to MedCap's Unimedic subsidiary for the pharmaceutical contract-manufacturing business, including the customer set of large global pharma names.
• Addtech AB: Nordic-listed serial acquirer of niche technology components businesses. Similar decentralized holdco model with acquisition-led compounding; relevant as a benchmark for MedCap's structure and capital-allocation discipline.
• BioGaia AB: Swedish-listed specialty life-sciences company focused on probiotic and digestive-health products. Comparable as a small-cap Nordic specialty life-sciences operator with overlapping probiotic/dietary-supplement exposure via MedCap's Inpac subsidiary.
• CellaVision AB: Swedish-listed medtech company providing digital cell-morphology analysis systems for hematology labs. Comparable as a small-mid-cap Nordic MedTech operator with similar size, profitability profile, and public-market visibility.
• Lagercrantz Group AB: Swedish listed serial acquirer of niche technology and digital businesses. Highly comparable acquisition model: small Swedish-listed holdco, decentralized operating companies, long-hold approach, with technology-adjacent end markets.
• Sectra AB: Swedish-listed medtech/health-IT company focused on medical imaging IT and secure communications. Comparable as a profitable Nordic small-mid-cap healthcare technology operator with overlapping MedTech exposure.
• Moberg Pharma AB: Swedish-listed specialty pharma company focused on dermatology and topical treatments. Comparable as a Nordic small-mid-cap specialty-pharma operating company with similar investor base and end-market dynamics.
• Vitrolife AB: Swedish-listed life-sciences company providing products for IVF / assisted reproduction. Comparable as a profitable Nordic small-mid-cap life-sciences operator with similar public-market profile and end-customer dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MedCap