Brighter completes the acquisition of Nectarine Health
The Board of Brighter AB (publ) announces that Brighter will complete the acquisition of Nectarine Health’s (formally Noomi AB) assets. The transaction, expected to be completed on January 31, 2020, is made through a non-cash issue and includes all intellectual property, customer relations, R&D department, inventory, staff and other assets. One of the investors in Nectarine Health is the EQT Ventures Fund (“EQT Ventures”).
The purchase price amounts to approximately EUR 1.5 million and payment is made through a new issue of shares in accordance with the authorization from the Annual General Meeting on May 9, 2019. The share price in the issue is determined by VWAP (daily volume weighted average price) based on the 10 trading days prior to admission, which is expected to be January 31, 2020.
“Nectarine Health is a promising and leading innovation company complementing Camanio AB, the Brighter group's subsidiary focused on technology and services in elderly care, very well. The acquisition is an important step forward in Brighter's long-term global expansion, adding valuable expertise in AI related software and hardware development, as well as strengthening the Group's position within elderly care with new solutions,” says Henrik Norström, CEO of Brighter AB.
EU-Startups.com has named Nectarine Health one of the most promising European agetech companies. The agetech sector is poised to grow rapidly, being the next frontier market for technology disruption due to the megatrend of an aging population. Older people are the fastest growing demographic group, and there are now more people over the age of 65 than under the age of five for the first time in history
“We are very happy to have secured a transaction through which Nectarine Health will become part of a larger family with a strategic fit and get a strong owner with access to the public markets. We believe this will give Nectarine Health an optimal platform on which the highly qualified and committed team can continue our mission,” says Peter Stephens, CEO Nectarine Health.
For further information, please contact:
Henrik Norström, CEO
+46 733 40 30 45
henrik.norstrom@brighter.se
About Nectarine Health
Nectarine Health is a Swedish start-up company which has been supported financially by EQT Ventures. The team consists of over 40 dedicated and talented people from over 12 nationalities, drawing on experience from Jawbone, Nokia, Ericsson, Elvie, and Philips. They have created the e-health system Nectarine(R), an artificial intelligence remote care solution developed to assist seniors living at home or in living and independent living facilities, enabling them to deliver more efficient and higher quality care to seniors. Nectarine combines unobtrusive and lightweight hardware, artificial intelligence and an easy-to-use app to monitor the acute and health trends in the wearer’s daily life.
About Brighter AB (publ)
Brighter is a health-tech company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to provide smarter care for chronic conditions. Our daily-care solutions facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – improving quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award.
The Company's shares are listed on Nasdaq First North Growth Market/BRIG.Brighter’s Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB, +46 (0)8 – 684 211 10, adviser@eminova.se, 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 21:30 CET on January 22, 2020.