Brighter intends to acquire Camanio Care's subsidiary and sell its holding in Camanio Care.
Brighter AB (publ) ("Brighter") has signed a letter of intent with Camanio Care AB (publ) ("Camanio Care") regarding the acquisition of all shares in Camanio Care's subsidiary. A prerequisite for the acquisition is that Camanio Care's assets and liabilities have been transferred to Camanio Care's subsidiary. The intended acquisition of Camanio Care's subsidiary also requires that the planned acquisition is approved by Camanio Care at an Extraordinary General Meeting. Camanio Care's Board of Directors will also engage an independent reviewer to evaluate the subsidiary before the Board decides whether they wish to proceed with the negotiations with Brighter and before the decision is taken up for consideration at the Extraordinary General Meeting of Camanio Care.
Camanio Care is a welfare technology company that develops innovative solutions for high quality home care. The company offers digital service platforms within care, robotics, tools and gamification to support people's basic needs and increase accessibility and quality in healthcare. The company also has sales through its subsidiary Camanio Care Inc. in the US, as well as distributors in Asia, the Middle East, Hong Kong, Australia and in several European countries.
The purchase price for the planned acquisition is intended to be paid by Brighter through a non-cash issue directed to Camanio Care, and Camanio Care transfers all shares in its subsidiary to Brighter. The value of the total number of shares planned to be issued by Brighter in the rights issue will correspond to the value of Camanio Care's subsidiary. The calculation of number of shares in Brighter that corresponds to the value of Camanio Care's subsidiary, will be based on the volume-weighted average price for Brighter’s share during a period of twenty (20) trading days before the decision on the rights issue.
“Camanio Care has not had the best conditions as a public company, but we are confident that the company's product portfolio has a bright future and see a great opportunity to refine operations outside the stock market, with less regulatory requirements taking resources and in a safe context. We see this as a measure to safeguard Brighter's interest in Camanio Care in the best possible way while also taking responsibility and provide security for Camanio Care's customers,” says Jan Stålemark, board member of Brighter.
“The Camanio operations will be completely independent in the form of a separate subsidiary with its own management and board, while Brighter will continue to focus on selling the Actiste service and developing new application areas,” says Henrik Norström, Brighter's CEO.
In parallel to Brighter's planned acquisition of Camanio Care's subsidiary, Brighter also intends to sell all its shares and warrants in Camanio Care, that is, the company that remains after the assets and liabilities have been transferred to Camanio Care's subsidiary, to Brighter's Chairman of the Board Truls Sjöstedt and Brighters CEO Henrik Norström through companies.
“The acquisition of Brighter's shares in Camanio Care AB (publ) by me and Henrik, through companies, is of private nature and not linked to Brighter. The company will continue to be public, but it will be renamed and have a completely new business orientation. Henrik and I will not be operationally active in the company. In short, we want to establish a public investment company,” says Truls Sjöstedt, Brighter's Executive Chairperson.
For further information, please contact:
Henrik Norström, CEO
Phone: +46 733 40 30 45
Ann Zetterberg, CFO
Phone: +46 708 37 21 23
About Brighter AB (publ).
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. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award. https://brighter.se/
The Company's shares are listed on Nasdaq First North Growth Market/BRIG. Brighter’s Certified Adviser is Eminova Fondkommission AB, +46 (0)8 – 684 211 00, firstname.lastname@example.org, 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 17:00 CET on September 8, 2019.