Brighter merges the jDome business with Bestic and plans a public listing as an independent company.
Via its subsidiary, Brighter Two AB, Brighter AB acquired Bestic AB, a Swedish robotics company that develops and sells products and assistive devices for the healthcare and nursing sector. In conjunction with the acquisition, Brighter Two, which develops and sells jDome® BikeAround™, is merged with Bestic AB. Brighter Two is also changing its name to Camanio Care AB and will be listed on an appropriate marketplace in the first quarter of 2017.
"On a formal level, the jDome company is buying Bestic, but we consider this to be more of a merger with clear synergies. When we acquired jDome BikeAround, we already saw that this is a market that is worth developing and that the market for healthcare and nursing should embrace future consolidation. Through the restructuring, the sale of jDome can be made much more efficient. Furthermore, we see Bestic's product range as complementing jDome, and together we can take better advantage of the market potential," says Henrik Norström, CEO for Brighter Two and COO for Brighter.
Bestic AB currently offers a number of products, assistive devices and trainings related to eldercare and nursing. The company is represented via distributors in Europe and Asia. Furthermore, we have our own sales force in Sweden and three employees with operations in USA. The merger will optimize the companies' common resources and create a wider array of offerings, consisting of products and services for healthcare and social assistance technology, which is directed toward the same market segment. Apart from a broader skill base, a larger sales organization and geographic reach, the companies are also closely related in terms of values and culture.
The new company will be led by Bestic's current CEO, Catharina Borgenstierna, who has a solid background in medical technology, including being Global Marketing Director of Anesthesia at the Getinge Group and a Product Manager at Siemens. Catharina is also a deputy board member of the Swecare Foundation.
"Bestic and the jDome team are currently working with the same customer groups, and now when we become Camanio Care, we will not only be able to take advantage of each other’s knowledge, but we will also have an expanded distribution network, larger sales force and new contacts. Together, we will become a larger and stronger company, and we see major growth potential for our joint offerings. In addition, we also see possibilities for taking advantage of future opportunities for consolidation on the innovative market for nursing and healthcare assistive devices, which is currently made up of many small companies," says Catharina Borgenstierna, CEO at Bestic.
Formally Camanio Care pays MSEK 13.6 for 100% of the outstanding shares in Bestic AB and payment is made through an offset issue of 3,228,740 shares in Camanio Care. After the acquisition Brighter AB will own 60% and Bestic AB’s shareholders 40% of the shares in Camanio Care. Subsequently a number of the Brighter AB’s shares in Camanio Care will be distributed to Brighter AB's existing shareholders (Lex ASEA).
Prior to the planned distribution of shares and the upcoming listing on a marketplace, the company's financial position will have strengthened via a Private Placement. Therefore the company will not be in need of additional capital for the public listing, which is scheduled to take place during the first quarter of 2017.
"We are extremely satisfied with how the jDome business has developed, and since we see a lot of potential in the future, we have no plans to let go of our ownership in Camanio Care. We consider Camanio Care an important part in the ecosystem of connected health- and nursing care, where The Benefit Loop plays a central role. Through this deal, we can unleash resources at Brighter and put additional focus on the launch of Actiste, as well as expand the business surrounding our IP platform. Now, jDome BikeAround will also get extra support for further growth of the business via Bestic," says Truls Sjöstedt, Brighter’s CEO and founder.
For further information, please contact:
Henrik Norström, COO Brighter
Phone: 46 733 40 30 45
E-mail: henrik.norstrom@brighter.se
Truls Sjöstedt, CEO Brighter
Phone: 46 709 73 46 00
E-mail: truls.sjostedt@brighter.se
Catharina Borgenstierna, CEO Bestic / Camanio Care
E-mail: catharina.borgenstierna@camanio.com
About Bestic AB
Bestic AB is an innovative company offering assistive devices for the elderly and for people with disabilities, as well as training and organizational development for care homes. We believe that future welfare is created through innovations that improve quality and frees up time. The company was founded in Sweden in 2004, by Sten Hemmingsson who was in need of a good assistive eating device due to complications from polio. To develop the assistive device took seven years, with help from the Swedish Handicap Institute, Robotdalen, Promobilia and several other partners. Bestic® is now a CE-marked medical device and can be acquired by direct purchase, renting or leasing. Today, we have distributors in Denmark, Finland, Norway, the Netherlands, England, Spain, France, the US and Australia. Bestic AB has its headquarters in Stockholm, with production in Eskilstuna, Sweden.
About Brighter AB
Brighter develops solutions for data-driven and mobile health services. Through its intellectual property and innovative tools, jDome® and Actiste®, the company creates a more efficient care chain with focus on the individual. The goal is to simplify, streamline and enhance the information flow of relevant and reliable data between the patient and health care professionals. Brighter is initially focused on diabetes care and care for the elderly, but there are opportunities in the future to operate on a broader level, spanning more diseases and treatment approaches. This is done through The Benefit Loop®, Brighter’s cloud-based service that continuously collects, analyzes and shares data on the user's terms.
The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Remium Nordic AB +46 (0)8 – 454 32 50, CorporateFinance@remium.com , www.remium.com.
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 CET on October 25, 2016.
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