Swedish Startup Space

New Swedish tech deal – Emad Zand gets $24 million for his company

Written by on October 29, 2015

Entrepreneur Emad Zand has sold his Avesina Healthcare – a company specializing in advanced hearing aids. Now he is on the hunt for a new business idea and start-ups to invest in.

“I am so bored”, Emad Zand says with a moan when Breakit meets him at the exclusive restaurant Grodan in central Stockholm.

It has been almost exactly one month since he retired as CEO for Avesina Healthcare, and definitively handed control to the new owners, Danish conglomerate William Demant. But 31 year old Emad Zand is not exactly enjoying his time off.

“Sure, I am happy about the deal but if you have been running 80 mph for several years it feels empty when it suddenly ends”, he says.

The fresh annual report from the owner-company behind Avesina Healthcare reveals that the Danes paid almost $24 million for the shares.

“I cannot comment regarding the price tag more than that we are very happy”, Emad Zand says.

He took over the running of the family-owned company three years ago during another sale.

“My mother Shori built a healthcare group which she largely sold in November 2011. But one company remained which dealt with hearing aids and this was the business which I took care of”, Emad Zand says.

It was far from an obvious choice for Emad Zand. He lived in London at that point, working for the reputable management and consulting bureau McKinsey.

“It was a decision I took completely with my heart, not my brain. I am driven by sense of responsibility and I had a personal relationship with several of the people working for the company. I did not want them to suffer”, Emad Zand says.

He also saw great potential with the business itself not least within product development.

“We could ride a technological tidal wave that washed over the industry at the time, and still is. New processors and exploitation of pre-existing algorithms gives the users of the product a completely different experience”, Emad Zand says.

But he also applied the digitalization to his own organization. By using the enormous amount of data which was already available about patient flows for instance, and analyzing these, he got some extremely valuable material for decision-making.

“We streamlined the business and at the same time our staff became more content, while also being able to work less, from 40 hours per week to 38 hours per week. With increased salary”, Emad Zand says.

Sales also increased drastically – from $1.4 million in turnover when Emad Zand took over, to $13 million when the Danish company acquired the shares.

“The company has a good profit margin today, but the best was when we received full points in the county councils quality reviews. Both staff and customers had become more satisfied”, Emad Zand says.

Overall, he sees a great potential in the healthcare sector for both entrepreneurs and investors.

“There are enormous possibilities to create fruitful marriages between tech and healthcare. I am looking into several solid ideas within the segment right now”, Emad Zand says.

And there are no plans for retirement despite landing the huge deal a few weeks ago. On the contrary, Emad Zand is preparing to step on the gas both as an investor and entrepreneur. He is already one of the largest owners in recruitment service Sqore (where he is also the company chairman) and food app Phoodster.

“I want to enter at an early stage and possibly invest between $50.000 and $150.000. The coming twelve months I will make maybe two, three investments in Swedish tech companies”, Emad Zand says.

Parallel to the investment business, he is also actively looking for new business ideas.

“I am travelling a lot right now, to get inspiration. I was in San Francisco about a week ago for instance, at a conference related to healthcare and tech. I will definitely build a new company of my own. There is no doubt about that”, he says.

  • Harry van der Veen

    Great story. Good to see that he will reinvest his returns.

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