Brighter's board has decided to prioritize sale over alternative financing regarding the subsidiaries Camanio and Nectarine and its ownership in Accumbo
Brighter AB (Publ) (the Company) announced today that the Board has come to the conclusion that, in the case of the Company’s subsidiaries Camanio and Nectarine, an outright sale of all shares is preferable to a partial sale or finding third party investment. The Company has therefore decided in principle to sell all shares in the wholly owned subsidiaries and the 9% stake in Accumbo. It was also decided that Camanio's subsidiary Bestic AB will be sold separately, with its products for the healthcare sector - BikeAround, Bestic and Giraff as well as distribution agreements for digital therapy animals. The Company’s objective is to streamline its operations to focus on Brighter's core business of data-driven and connected diabetes care, which has previously been communicated.
“It feels good that we have decided to try to sell our shareholdings in our subsidiaries and Accumbo, and that we have already initiated discussions with stakeholders. In 2021, both subsidiaries have come a long way in their commercialization phase and are thus more attractive on the market. If everything goes according to plan, Brighter will be a more focused company that is better positioned to further intensify our commercialization efforts", says Christer Trägårdh, Chairman of the Board of Brighter AB.
Brighter has begun discussions regarding the sale of all companies, but no agreement has yet been reached. Even if there is interest, it is currently not possible to provide a concrete timetable, and we therefore continue to work in parallel with other investment and financing solutions. In the event of a sale, the net proceeds will be used for Brighter's working capital and to support the Company's ongoing commercialization of its Actiste solution. The Company would also, in the event of a deal, reduce its costs significantly, which is in line with the ambition that has previously been communicated.
For more information, please contact:
Investor Relations
ir@brighter.se
Certified Adviser
Brighter's Certified Adviser is Eminova Fondkommission AB, +46 [0)8 - 684 211 10, adviser@eminova.se, www.eminova.se
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 providing smarter care for chronic conditions. Our daily-care solutions are designed with a vision to facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – aiming to improve quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter's quality management system is ISO-13485 certified. In 2019 the company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG. https://brighter.se/