KARO BIO ACQUIRES OVER 90 PER CENT OF MEDCORE

Karo Bio AB (publ) acquires more than 90 percent of the shares in MedCore AB.

MedCore markets primarily licensed medtech products to pharmacies and hospitals in the Nordic region. The products target the therapeutic areas Diabetes, Anesthesia/Intensive Care and Surgery.

Turnover is approx. MSEK 50 with an operating profit expected to be slightly positive in 2015. The purchase price is MSEK 18. In a first round, Karo Bio pays slightly more than 16 MSEK in new shares for a little more than 90 per cent of the shares in MedCore. Shareholders representing more than 90 per cent of the shares have accepted the offer. After the share issue, a cash offer will be made to remaining shareholders corresponding to the price in the share offer.

”The acquisition of MedCore, which fits our operations well, is a further step in the consolidation of the sector in the Nordic region”, says Anders Lönner, Chairman in Karo Bio.

"MedCore has better opportunities to develop positively within Karo Bio”, says Håkan Åström, Chairman of MedCore.

FOR FURTHER INFORMATION PLEASE CONTACT:
Henrik Palm, CFO, phone 070-540 40 14 or e-mail henrik.palm@karobio.se

ABOUT KARO BIO
Karo Bio is a healthcare company that develops and markets products to pharmacies and directly to healthcare providers. The share is listed on Nasdaq Stockholm.

The information in this report is such that Karo Bio is required to disclose under the Swedish Securities Market Act. The information was disclosed on October 28, 2015 at 8.30 a.m. CET.
  

This press release is also available on www.karobio.se and www.newsroom.cision.com.

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