Update on acquisition of Ferrari L. and Shareholder Letter
Oslo, 20 April 2023 – Observe Medical ASA ("the Company" or "Observe Medical") today announces it has informed Ferrari L., an Italian manufacturer of medical equipment, that the Company has decided to discontinue the process of acquiring Ferrari L. The contemplated acquisition was originally announced in a press release on 14 December 2022. This decision is the result of Observe Medical having identified a more cost-efficient manufacturer alternative, which is expected to secure high-quality volume production of the Observe Medical products. This decision will reduce the Company's future