Brighter signs 5-year agreement and receives initial order for Actiste® worth EUR 2.3 Million in Nigeria
Brighter AB (publ) (“The company” or “Brighter”) has signed a five-year distribution agreement with Wssonlines Nigeria Ltd in Nigeria (“the Distributor”) regarding Brighter’s pioneering product portfolio for diabetes management, Actiste® (“Actiste® Service”). Both Actiste® and the newly developed Actiste® Mini are included in the agreement.
The agreed minimum order volume for the first 12 months of the five-year agreement amounts to 8,000 subscriptions, corresponding to an estimated revenue of c. EUR 6.3 million. The exact amount depends on the final distribution between Actiste® and Actiste® Mini, determined by the Distributor. In connection with the agreement’s signing, Brighter received an initial order for 3000 subscriptions, corresponding to c. EUR 2.3 million.
The parties have agreed on an increasing minimum order volume each year that in year five of the agreement alone would correspond to an order volume of 210,000 subscriptions generating an estimated revenue of EUR 151M. There are however no guarantees that these volumes will be reached.
Brighter will receive a pre-payment of EUR 576,000 in connection with the order, and the remaining amount in connection with shipment.
The agreement gives the Distributor exclusive rights to sell the Actiste® product portfolio in Nigeria during the term of the agreement. The estimated market approval process is 9 months.
About Actiste
The Actiste® product portfolio (“Actiste Service”) is based on a concept the company refers to as “The Benefit Loop” - a personal, holistic and data-centered approach to healthcare. The service includes a unique unified care device for monitoring, supporting, and treating diabetes using insulin therapy (Actiste®) or oral antidiabetic drugs (Actiste® Mini). The devices have global out-of-the-box connectivity via eSIM technology making them completely independent of other units to save, share and utilize data. Combined with a digital platform for daily support and management, and automatic replenishment of needed consumables, the aim is to simplify the everyday life for people living with diabetes supporting improved treatment adherence, to increase healthcare providers’ access to real-world treatment data for better treatment advice, and ultimately to facilitate better health outcomes with improved efficiency. https://actiste.com/
For further information, please contact:
Investor Relations
IR@brighter.se
Emilie Erhardt Winiarski, acting Chairperson
emilie.erhardt@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 provide 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 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.
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 15:08 CET on December 30, 2020.