Brighter and AFAQ initiate partnership to launch Actiste in the GCC.
Brighter AB (publ) and AFAQ Group L.L.C. have entered a partnership to establish a company based in the United Arab Emirates and introduce Actiste® Diabetes Management as a Service into the Gulf Cooperation Council (G.C.C.) region.
The parties mutual interest and dedication to partake in the successful market introduction of Actiste in the Arab world has already resulted in significant progress.
A comment from Sheikha Latifa Mohammed bin Mujirin, Managing Principal, AFAQ Group:
“AFAQ has identified that Brighter’s Actiste® Diabetes Management as a Service is highly relevant and important to help treat and improve the quality of life for the people of our Arabian Gulf and its guests, where diabetes is a primary concern that continues to rise. Brighter’s solution to diabetes management, both from a user perspective and from a healthcare management and investment perspective, aligns well with the aim of our governments to slow and ultimately reverse this trend.”
International Diabetes Federation predicts that the number of diabetics in the region will increase by 100 percent 2017-2045, making it one of the world’s fastest growing regions for diabetes. Another 2017 comprehensive independent review of 88 academic literatures since 1980 has estimated the region’s Type 2 Diabetes Mellitus prevalence being at 25.45%, among the most glaring health issues of this century.
“The Gulf is, like most parts of the world, being challenged by a rapid growth of diabetes due to fast societal development and lifestyle changes, creating an immense need for improved diabetes monitoring and management systems. With Actiste, we are providing a cost-effective service stimulating behavioral change, key to successful and effective treatment of diabetes. We are proud to be associated with AFAQ for our establishment in Dubai as an entry point into the vicinity, well-versed in local customs while sharing our values, vision and mission,” says Brighter’s founder and CEO Truls Sjöstedt.
For further information, please contact:
For Brighter AB (Publ):
Truls Sjöstedt, CEO
Telefon: +46 709 73 46 00
Henrik Norström, COO
Telefon: +46 733 40 30 45
For AFAQ Group LLC:
Privately established in 2015 by Sheikha Latifa Mohammed bin Mujirin Al Murrar espoused to His Highness Sheikh Hasher bin Ahmed bin Juma Al-Maktoum, the AFAQ Group pursues strategic societal outcomes for the people of the Arabian Peninsula through novel approaches to the stewardship of cause-driven investment capital and commercial operations, thereby improving efficiencies and risk mitigations trade in the area. www.afaq.ae
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare’s biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop™ - is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. www.brighter.se
Brighter's solution Actiste® handles most of the self-monitoring and treatment of insulin-treated diabetes in a single easy-to-use device. Measurement of glucose levels, insulin injections, automatic logging, and timing of all activities are performed from a single unit. Actiste is connected via an autonomous and secure mobile connection, and information can be automatically shared with selected recipients through The Benefit Loop®, Brighter's open cloud-based service where data is collected, processed and analyzed with patient consent.
Validated user-generated data, such as test results, can be automatically transferred electronically to many different constituents. The patient selects when and how data is shared and who will have access to it. Through The Benefit Loop, different services can motivate patients with chronic illnesses to change their behavior, which can save lives, reduce relatives' concerns, and release enormous healthcare resources. www.actiste.com
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB, +46 (0)8 – 684 211 00, email@example.com, www.eminova.se.
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 08:30 CEST on July 3rd, 2018.