The rehabilitation fitness equipment industry in the Nordics focuses on developing innovative tools and technologies that support recovery and wellness. Companies in this sector range from startups creating specialized fitness devices to established manufacturers producing advanced medical equipment. The industry is seeing increased interest as healthcare providers emphasize patient-centered care, with many facilities investing in user-friendly, accessible solutions. As the demand for effective rehabilitation options grows, there is a notable push towards integrating technology, such as digital monitoring and remote therapy solutions, enhancing user experience and outcomes in rehabilitation settings.

The investors on this list represent a mix of private equity firms and corporate investors, primarily headquartered in Sweden, Norway, and Denmark. Many have deep roots, established in the late 20th century, and typically manage medium to large-sized portfolios. In 2024, these investors executed a variety of deals, signaling active engagement in the rehabilitation fitness equipment market. With investment counts ranging from two to thirty across notable firms like Nordic Capital and AddLife AB, this diverse group shows a firm commitment to enhancing the sector.

Top 13 Rehabilitation Fitness Equipment Investors in the Nordics

1. Almi

• Website: almi.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi has invested in Bioservo Technologies, which raised $1,525,598 in 2014 and focuses on rehabilitation technologies. They also invested in Stepler, which raised $1,141,285 in 2021, and Mymowo, a digital training service that raised $2.8 million in 2016. These investments reflect Almi's engagement in sectors that intersect with rehabilitation and fitness, showcasing their potential relevance in the rehabilitation fitness equipment industry.

2. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT acquired a 20% stake in Ottobock, a leading prosthetics manufacturer, for approximately €630 million, highlighting their commitment to the rehabilitation sector. Additionally, their acquisition of Atos Medical, a healthcare company, further emphasizes their focus on investments that support health and rehabilitation. EQT's involvement in Gympass, a fitness platform, also reflects their interest in the broader fitness and wellness industry, which intersects with rehabilitation fitness equipment.

3. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, with a strong emphasis on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on creating long-term value and sustainability. Among its notable transactions, Nordic Capital acquired Permobil, a leading wheelchair supplier, and Atos Medical, a company specializing in medical devices for ear, nose, and throat rehabilitation. These investments highlight Nordic Capital's commitment to the rehabilitation sector, as they support companies that provide essential products and services for individuals with disabilities and rehabilitation needs. Additionally, their acquisition of Orchid Orthopedic Solutions, which operates in the orthopedic medical device sector, further underscores their involvement in healthcare-related investments.

4. Seed Capital Denmark

• Website: seedcapital.dk
• Type: Venture Capital
• Headquarters: Frederiksberg, Frederiksberg, Denmark
• Founded year: 2004
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: seed-capital-denmark

Seed Capital Denmark is a venture capital firm based in Copenhagen, specializing in providing seed funding and advisory services to technology startups in Denmark. Founded in 2004, the firm has a strong track record of successful investments, particularly in sectors such as SaaS and Fintech. However, they have also invested in companies relevant to the rehabilitation fitness equipment industry. For instance, Nordic Neurostim, which raised $927,055 in a seed round, focuses on neurostimulation technology that could aid in rehabilitation. Similarly, Injurymap, which raised an undisclosed amount, offers solutions for injury rehabilitation, further emphasizing Seed Capital's engagement in health-related technologies. These investments highlight their support for innovations that can enhance rehabilitation and fitness, showcasing their versatility as an investor.

5. Verdane

• Website: verdane.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1985
• Headcount: 51-200
• Number of deals in 2024: 7
• LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notable transactions include the acquisition of Eversports, a platform that connects users with fitness and wellness services, and Urban Sports Club, which has secured significant funding to expand its offerings in the fitness sector. These investments highlight Verdane's commitment to the fitness and wellness industry, making them a potential player in the rehabilitation fitness equipment market.

6. AddLife AB

• Website: add.life
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2016
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: addlife-ab

AddLife AB is a Swedish corporate investor based in Stockholm, founded in 2016. The company operates in the Life Science sector, focusing on Labtech and Medtech, providing high-quality medical technology products, assistive equipment, and laboratory solutions primarily to healthcare providers, hospitals, and research institutions across Europe. AddLife has a decentralized business model that allows its subsidiaries to maintain flexibility while benefiting from the company's resources. Notable transactions include the acquisition of Ropox A/S, which specializes in needs-adapted kitchen and bathroom solutions, enhancing AddLife's presence in the home care segment. Additionally, the acquisition of Väinö Korpinen Oy, a leading supplier of accessible bathroom solutions, aligns with their strategy for expansion in the home care sector. These transactions highlight AddLife's commitment to enhancing accessibility and assistive technologies, which are integral to rehabilitation and fitness equipment.

7. CapMan

• Website: capman.com
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1989
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn: capman

CapMan Oyj is a private equity investment management firm based in Helsinki, Finland, founded in 1989. The firm specializes in private equity, real estate, infrastructure, and natural capital investments, serving institutional investors with diverse strategies aimed at sustainable returns. CapMan has a strong presence in the Nordic markets and leverages its expertise to manage funds and drive value creation. Notably, CapMan has made significant investments in companies relevant to the rehabilitation fitness equipment sector, including Swereco, which received an equity investment from CapMan, indicating a focus on rehabilitation or assistive technologies. Additionally, CapMan's acquisition of MMSports, a company specializing in sports nutrition and equipment, further highlights its interest in the fitness industry, which may include rehabilitation fitness equipment. These transactions suggest that CapMan is actively engaged in sectors that align with rehabilitation and fitness, making it a relevant investor in this space.

8. Indutrade Life Science

• Website: indutrade.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1978
• Headcount: 1001-5000
• Number of deals in 2024: 14
• LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that specializes in developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. In 2022, Indutrade made notable acquisitions relevant to the rehabilitation fitness equipment industry, including Primed Fysio och Rehab AB, which supplies professional physiotherapy equipment. This acquisition highlights Indutrade's commitment to expanding its portfolio in the rehabilitation sector. Other acquisitions, such as Oscar Medtec, which supplies medical refrigerators and examination furniture, further demonstrate their focus on healthcare-related products. Overall, Indutrade operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources, which can enhance their ability to innovate and provide reliable solutions in the rehabilitation fitness equipment market.

9. Investor AB

• Website: investorab.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1916
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn: investor-ab

Investor AB is an investment holding company based in Stockholm, Sweden, founded in 1916. It manages a diverse portfolio of high-quality global companies, focusing on long-term investments and providing strategic support primarily in the pharmaceuticals, telecommunications, and industrial sectors. Notably, Investor AB has made significant acquisitions in the medical technology field, including Permobil, a company known for its rehabilitation equipment, and Mölnlycke Health Care, which also operates in the healthcare sector. These transactions highlight Investor AB's commitment to enhancing performance and sustainability in companies that contribute to rehabilitation and healthcare, making them a relevant player in the rehabilitation fitness equipment industry.

10. Össur

• Website: ossur.com
• Type: Corporate
• Headquarters: Reykjavík, Reykjavíkurborg, Iceland
• Founded year: 1971
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: ossur

Össur is a corporate investor based in Reykjavík, Iceland, specializing in medical devices, particularly prosthetics and orthotic solutions. Founded in 1971, the company has established itself as a leader in providing innovative products aimed at enhancing mobility for individuals with limb differences and orthopedic conditions. Össur's recent acquisitions reflect its strategic focus on expanding its offerings in the rehabilitation space. Notably, in January 2024, Össur acquired Fior & Gentz, a German manufacturer of lower limb neuro orthotic components, for an enterprise value of EUR 100 million, which underscores its commitment to advancing rehabilitation technologies. Additionally, the acquisition of Naked Prosthetics in August 2022, which specializes in custom finger prostheses, further enhances Össur's portfolio in upper limb rehabilitation solutions. These transactions highlight Össur's dedication to improving the quality of life for individuals through advanced technology and support services in the rehabilitation fitness equipment context.

11. Lifeline Ventures

• Website: lifelineventures.com
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2009
• Headcount: 1-10
• Number of deals in 2024: 14
• LinkedIn: lifeline-ventures

Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Notably, Lifeline Ventures has invested in Oura, a company known for its innovative wellness ring and app that tracks health metrics, which can be relevant in the rehabilitation context. Their involvement in Oura's seed funding round in 2015, which raised $2.3 million, highlights their commitment to health tech. Additionally, they have supported HumanCharger, a company that focuses on light therapy for improving well-being, which could also intersect with rehabilitation and fitness. Overall, Lifeline Ventures demonstrates a proactive approach to investing in health-related technologies, making them a potential player in the rehabilitation fitness equipment space.

12. FSN Capital Partners

• Website: fsncapital.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1999
• Headcount: 51-200
• LinkedIn: fsn-capital

FSN Capital Partners is a private equity investment firm based in Oslo, Norway, founded in 1999. The firm specializes in managing investments across various sectors, including services, green transition, industrials, and technology. FSN Capital aims to drive growth and transformation in its portfolio companies, primarily catering to institutional investors and pension funds seeking sustainable returns. Notably, FSN Capital has been involved in significant transactions within the fitness industry, including the acquisition of Fitness World AS, a prominent fitness services company in Denmark, which has demonstrated strong growth with sales reaching DKK 1 billion. Additionally, they acquired Actic, further emphasizing their commitment to the fitness sector. These transactions highlight FSN Capital's engagement in the fitness industry, making them a relevant player in the rehabilitation fitness equipment space.

13. Medicover

• Website: medicover.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1995
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: medicover

Medicover is a corporate healthcare provider founded in 1995, headquartered in Stockholm, Sweden. The company specializes in diagnostic and healthcare services, operating a network of medical clinics, hospitals, and laboratories primarily in Central and Eastern Europe and India. Medicover serves both individual consumers and corporate clients, offering a comprehensive range of health services aimed at improving and maintaining well-being. In recent years, Medicover has expanded its footprint in the fitness sector through strategic acquisitions, including the acquisition of 14 fitness clubs operated by McFIT in Poland and a chain of 18 fitness clubs under the Fitness Platinium and Smart Gym brands. These acquisitions reflect Medicover's commitment to enhancing its fitness club portfolio and promoting health and wellness. Additionally, their acquisition of Polaris Medical, one of the largest private recovery hospitals in Romania, indicates a focus on rehabilitation services, further aligning them with the rehabilitation fitness equipment industry.

Rehabilitation Fitness Equipment Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Nordic Capital	Stockholm, Stockholm, Sweden	201-500	1989	10
Seed Capital Denmark	Frederiksberg, Frederiksberg, Denmark	1-10	2004	5
Verdane	Oslo, Oslo, Norway	51-200	1985	7
AddLife AB	Stockholm, Stockholm, Sweden	1001-5000	2016	3
CapMan	Helsinki, Uusimaa, Finland	51-200	1989	4
Indutrade Life Science	Stockholm, Stockholm, Sweden	1001-5000	1978	14
Investor AB	Stockholm, Stockholm, Sweden	51-200	1916	4
Össur	Reykjavík, Reykjavíkurborg, Iceland	1001-5000	1971	1
Lifeline Ventures	Helsinki, Uusimaa, Finland	1-10	2009	14
FSN Capital Partners	Oslo, Oslo, Norway	51-200	1999	0
Medicover	Stockholm, Stockholm, Sweden	10001+	1995	2

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