Devyser makes provisions due to retroactive "payback" levy
Devyser announces today that, due to the newly-introduced “payback” levy in Italy, the company will make provisions for its costs in Italy for the years 2015-2018 as well as estimated costs for the years 2019-2022. These provisions will affect the operating result for 2022 by approximately SEK 7 million.
The Italian Ministry for Health has introduced a retroactive levy, known as "payback", on companies that marketed medical devices in Italy for sales to the National Health Service (NHS-SSN) in 2015, 2016, 2017 and 2018. The total amount to be recovered in this way amounts to approximately €2 billion.
Since 2014, Devyser has been operating in Italy under its subsidiary Devyser Italia S.r.l and Italy currently represents Devyser's largest national market.
“Obviously it’s unfortunate when the goalposts are moved retrospectively and we are liable for a retroactive levy like this. In consultation with our legal advisers, we have thoroughly investigated and implemented the measures possible for us to avoid or reduce the imposed charge. We know that there are also a number of appeals against the decision. Based on the decision for the years 2015-2018 and our corresponding assessment for the years 2019-2022, a provision of SEK 7 million is reasonable", says Fredrik Alpsten, CEO of Devyser.
The amount in this press release is preliminary and unaudited. Devyser will not comment further on the financial development before the publication of the 2022 Year-end report.
Devyser's Year-end report for the period January-December 2022 will be published on Thursday 21 February 2023 at 07.30 CET in accordance with the company's financial calendar. A webcast presentation will be held on the same day at 09.00 CET.
This information is information that Devyser Diagnostics AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. This information was submitted for publication by the contact persons below on January 27 2023 at 12.30am CET.
For more information, please contact:
Fredrik Alpsten, CEO
Email: fredrik.alpsten@devyser.com
Tel: +46 706 673 106
Sabina Berlin, CFO
Email: sabina.berlin@devyser.com
Tel: +46 739 519 502
About Devyser Diagnostics AB (publ)
Devyser develops, produces and sells genetic testing kits to laboratories in more than 50 countries. The products are used for complex DNA testing in the hereditary disease, oncology and transplant fields, to enable targeted cancer treatment, the diagnosis of a large number of genetic diseases, and transplant patient follow-up. Devyser’s products simplify complex genetic testing processes, improve sample throughput, minimize hands-on time and deliver rapid results. The company was founded in 2004 and is based in Stockholm, Sweden.
Devyser’s shares are listed on the Nasdaq First North Growth Market Stockholm (ticker: DVYSR). The company’s Certified Adviser is Redeye AB. For more information, visit www.devyser.com.