AddLife continues its review of Homecare
Addlife has decided to initiate trade union negotiations regarding a planned closure of the subsidiary Camanio and its development project relating to safety alarms. This is a result of the previously announced evaluation of the Homecare development initiatives. All employees have therefore been given notice of probable termination of employment. In conjunction with the closure of the company Camanio, Addlife will report an impairment loss on related assets totalling SEK 100 million in the fourth quarter of 2023.
Camanio’s development project relating to safety alarms has entailed an annual cost of approximately SEK 50 million and an annual negative effect on cash flow of approximately SEK 80 million. These effects are expected to gradually decrease during a planned discontinuation period starting in the first quarter of 2024, which is scheduled for completion in the third quarter of 2024. The intention is also to close the company Camanio. The closure involves AddLife reporting an impairment loss on intangible assets of around SEK 80 million and an impairment loss on non-current assets of around SEK 20 million in the fourth quarter of 2023.
AddLife will ensure upon closure that customers and users who currently use the system continue to be provided with support and functionality during the discontinuation period, and will also offer them alternative solutions.
Stockholm, 8 January 2024
AddLife AB (publ)
For further information, please contact
Fredrik Dalborg, President and CEO, +46 70 516 09 01
AddLife is an independent player in the Life Science industry that offers high-quality products, services and advice to both the private and public sectors, mainly in the Nordic region and rest of Europe. AddLife has about 2,300 employees in some 85 operating subsidiaries. The Group currently has net sales of approximately SEK 9 billion. AddLife shares are listed on Nasdaq Stockholm.
This information is information that AddLife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at January 8, 2024 at 14:00 p.m. CET.