English

Year End Report 2014

Report this content

Summary of the period January 1 – December 31 2014.

  • Operating revenues totalled SEK 1,758,000 (927,000)
  • Profit/loss after financial items totalled SEK -22,441,000 (-2,783,000)
  • Earnings per share before dilution: SEK -1.32
  • Earnings per share after dilution: SEK -1.32

Financial calendar.

Interim information January-March 2015: 2015-06-05
Half-year report January-June 2015: 2015-08-28
Interim information January-September 2015: 2015-12-11

Significant events during the financial year 2014.

  • January - private placement – ca SEK 25 million at SEK 7 per share.
  • February - preferential rights issue – ca SEK 10 million at SEK 7 per share.
  • March - Brighter’s share moves from Aktietorget to the Nasdaq OMX First North Exchange.
  • May - Henrik Norström becomes COO.
  • June
    • Three new members of the Board of Directors.
    • Options program 2014/17 Series I to members of the Board of Directors.
    • Options program 2014/17 Series II to employees and key personnel.
  • July
    • A bank guarantee of SEK 752,458 provided to Stebro Plast AB expires, which frees up the equivalent bank deposit funds and reduce the Company’s guarantee costs.
    • Decision to terminate distribution arrangement with Rubin Medical.
  • September - Decision to delay launch until March 2015.
  • November
    • Brighter engages Remium Nordic as liquidity guarantor.
    • Brighter engages Remium Nordic for its Introduce.se IR service.
    • Brighter participates in the Innovative Sweden tour in Vietnam.
    • The SEK 50,000 bank guarantee placed with Euroclear was withdrawn by Euroclear, which frees up the equivalent bank deposit funds and reduces the Company’s bank guarantee costs.

Significant events after the end of the period

  • 2015-01-15 – Remium Nordic becomes the Company’s Certified Adviser.
  • 2015-01-26 – Senior lecturer Michael Alvarsson becomes an adviser to the Company.
  • 2015-02-06 - Decision to halt the launch of Brighter One. The Board of Directors tasks the management team with exploring the possibility of recovering damages against our technology partner.
  • 2015-02-10 – Brighter request payment for damages against its previous technology partner.
  • 2015-02-20 – Brighter selects Veryday AB as its industrial design partner.
  • 2015-03-16 – Brighter selects Helbling as its design & development partner.
  • The Board of Directors has taken steps to ensure the financing of the Company.
  • 2015-03-26 – Brighter publishes press release about collaboration with Microsoft in e- and m-health.
  • 2015-03-30 – Brighter secures loan of 3 MSEK.

Message from the CEO.

Since 2007, Brighter has worked towards its objective of making life easier for people living with diabetes. Brighter sees that progress is moving faster than ever. Studies show that by 2020, 50 million devices will be connected to the Internet. It is estimated that 15% of these devices will consist of products in the e-health and m-health categories (m-health means mobile healthcare aided by smartphones).

Brighter’s decision earlier this year to cancel the launch of Brighter One was a necessary strategic choice due to the extremely rapid rate of change we’re seeing in e-health and m-health – a global market valued at USD 160 billion already this year.

Brighter must always be on the cutting edge of progress and meet the expectations of tomorrow. Therefore I look forward to developing a better and more competitive connected product with that will deliver considerably higher value than Brighter One.

Next generation Brighter One doesn’t just make life easier for diabetes patients – it creates entirely new possibilities for communication between patients, their healthcare providers, their families and many other stakeholders. We call this “the Benefit Loop”, where the data the patient creates about his or her health and how he or she is managing the disease is entered into other systems, guaranteeing a higher quality of treatment. If the patient wishes, he or she can contribute data and create better and faster research results, which can be a tremendous benefit to both society and the pharmaceutical industry.

Brighter is making strategic decisions to deal with this development and secure its position in the growing m-health market. Important decisions in this process are the completed development of a new quality assurance system under the supervision of Tüv Süd; the choice of our development partners Helbling and Veryday, who are leaders in their fields; and the good relationships we’ve built with global IT players with leading expertise in m-health.

Moreover Brighter collaborates with Microsoft and we investigate the opportunities in e- and m-health in Sweden together. Having Microsoft along, we have one of the pieces required to provide tomorrow's connected health and this is what we educate customers about.

Brighter continues to focus on diabetes treatment. According to IDF, the International Diabetes Federation, there are 388 million diabetics worldwide. 37% of them – 143 million people – are treated with insulin. IDF estimates that half of the diabetics in the world have not been diagnosed. 11% of global healthcare costs are for diabetes. Diabetes is growing by 10-15% per year. It is estimated that there will be 600 million diabetics in the world by 2030.

Brighter’s mission is to make it easier for these people to manage their disease, while giving them more freedom through the opportunities that the connected next generation Brighter One will provide to individual patients and to society as a whole.

Truls Sjöstedt, CEO Brighter AB (publ).

For further information please contact:

Truls Sjöstedt, CEO
Telephone: +46 709 73 46 00
E-mail: truls.sjostedt@brighter.se

Henrik Norström, COO
Telephone: +46 733 40 30 45
E-mail: henrik.norstrom@brighter.se

Gert Westergren, Chairman of the Board
Telephone: + 46 705 55 77 99
E-mail: gert.westergren@brighter.se

About Brighter AB (publ).

By means of its intellectual property Brighter develops innovations for people who live with a medical condition. We develop the tools that improve the situation and every day lives of individuals. Half of Sweden’s 4.6 million households will be “connected” for home care or through mobile units within five years. Brighter’s objective is to simplify, streamline and strengthen the relationship between patients and healthcare professionals through the development of innovations in the area of digital health - a market that already today - 2015 - is valued at 160 Billion US dollars on a global basis.

The Company's shares are listed on NASDAQOMX First North/BRIG.
Visit our website and subscribe to press releases: www.brighter.se.


Tags:

brighter

Documents & Links