Brighter subscribes in whole to Camanio Care's rights issue for China expansion.
Brighter's associated company Camanio Care (publ), which develops and sells robotics and Augmented Reality solutions for elderly care and assisted care, announced on Friday that the company is executing a rights issue to accelerate the growth rate in China and the United States. Brighter intends to defend its ownership in Camanio Care.
Camanio Care has recently intensified its expansion strategy to the Chinese market, where the number of elderly is growing fast and the need for elderly care is high. Since the 1960s, the average life expectancy of the population has increased from about 43 years to about 75 years, according to the World Bank, and the number of citizens in China over the age of 60 is expected to increase from about 220 million today to up to 500 million by 2050, which means that close to 45% of China's population will be over 60 years old 2050.
"China is a huge market with great potential for Camanio Care, which has both popular and value-adding products in robotics and Augmented Reality for elderly care," said Truls Sjöstedt, CEO of Brighter. We believe this is the beginning of a fantastic growth journey and will therefore fully subscribe to our holdings in the rights issue in order to defend our ownership.
Brighter already owns 29.9 percent of Camanio Care. With the subscription commitment, Brighter now invests approximately MSEK 3.1 in the company through the rights issue. The issue will provide Camanio Care with at least 10,406,499 SEK before issue costs. If a oversubscription issue is also exercised in full, the company will receive another 10,406,499 SEK, which will total 20,812,998 SEK before issue costs if both the rights issue and the oversubscription issue are fully subscribed.
For more information, please contact:
Truls Sjöstedt, CEO
Tel: +46 709 73 46 00
Henrik Norström, COO
Tel: +46 733 40 30 45
About Brighter AB (publ)
Brighter develops healthtech solutions with its data-driven mobile health services. Through its intellectual property and its first launch Actiste®, the company creates a more efficient care chain with focus on the individual. The goal is to simplify, streamline and enhance the information flow of relevant and reliable data between the patient and health care professionals. Brighter is initially focused on diabetes care, but there are opportunities in the future to operate on a broader level, spanning more diseases and treatment approaches. This is done through The Benefit Loop®, Brighter’s cloud-based service that continuously collects, analyzes and shares data on the user's terms.
The Company's shares are listed on NASDAQOMX First North/BRIG . Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic AB +46 (0)8 – 454 32 50, CorporateFinance@remium.com , www.remium.com .
This information is information that Brighter AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 CET on May 15 2017.