Nectarine Health breaks off corporate restructuring and files for bankruptcy
Pink Nectarine Health AB (“Nectarine Health”) (“the Company”), a subsidiary of Brighter AB (Publ) (“Brighter”), has since 30 September 2022 been in corporate restructuring (Sw. “företagsrekonstruktion”) with the aim of securing the company's survival. The Company has worked intensively to find financing and alternatively to divest the Nectarine Health business, it has now become apparent that there is not enough time to rescue Nectarine Health. The reconstructor has now requested that the reconstruction cease and the board of Nectarine Health has not objected. Accordingly, the board of Nectarine Health has decided to file for bankruptcy (Sw. “konkurs”) with the Stockholm District Court.
The application is expected to be submitted to the Stockholm District Court shortly.
Today's decision in Nectarine Health means that the previously communicated risk for impairment of Brighter's claims on and shareholding in Nectarine Health of approximately SEK 65 million + approximately SEK 10 million will increase.
"We have done everything we could to find financing and, alternatively, to divest Nectarine Health to enable the continuation of the business and preserve value for stakeholders. It is a necessary decision that the board of Nectarine Health has been forced to make. Nectarine Health will continue to work to reconstruct operations during the bankruptcy and complete ongoing discussions, " says Christer Trägårdh, chairman of the board of Nectarine Health and Brighter.
For more information, please contact:
Investor Relations
IR@brighter.se
Certified Adviser
Brighter’s Certified Adviser is Mangold Fondkommission AB,
About Brighter
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 ISO13485 certified. In 2019 the company won the Swecare Rising Stars Award. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.
For more information, please visit our website at www.brighter.se
This information is information that Brighter AB (publ) 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 20:20 CEST on October 16, 2022.