PolarCool AB (publ) closes deal with Swedish Hockey League (“SHL”)
PolarCool AB receives an order from the Swedish Hockey League (Svenska Hockeyligan AB, SHL) which entails that all 14 SHL teams lease two PolarCap® System each, a total of 28. The order value is 1 MSEK. The intent is to establish a standardized treatment method to reduce brain damage subsequent of concussions and repetitive head impacts. The medical teams will monitor the two-year evaluation and the results will continue to be systematically documented, with a focus on measuring symptom relief.
During the last two seasons, 12 teams in SHL and HockeyAllsvenskan have participated in a clinical study with PolarCap®, which shows that treated players have returned to play 33% sooner than the control group, a statistically significant effect. PolarCap® treatment is applied immediately following a suspected or diagnosed concussion.
The order from SHL includes lease of 28 PolarCap® Systems for 24 months. Each team will have access to two systems in order to be able to treat players in both home and away teams. In addition to the cooling unit, a starter kit is included with consumables in the form of cooling caps, insulation and coolant. The consumables are expected to generate additional revenues for PolarCool during the contract period.
During the second half of 2018 and in the beginning of 2019, PolarCool worked closely with the teams in SHL to educate players, leaders and others in the organizations about the benefits of PolarCap® System to reduce and alleviate brain damage in the field of ice hockey. A standardized and homogeneous application of the method creates good premises for optimizing the results of the cooling treatment.
Swedish Hockey League’s Sports Director, Johan Hemlin, comments;
- From SHL's side, we look forward to a continued evaluation of cooling as a treatment method for concussions, as part of our work to improve overall player safety in SHL.
The Secretary General of the Swedish Ice Hockey Players Association (SICO), Erik Zachrisson, comments;
- Since the start of this project, SICO has been curious about this new treatment method for concussions that is likely to reduce symptoms and have positive effects on rehabilitation for our members. With the addition of the recently announced evidence, it feels very good that we, together with SHL, take this step as part of our active work to improve player safety in SHL. This becomes an important piece of the puzzle during rehabilitation, while the most important thing is still to prevent these injuries from occurring. Hopefully, this continued evaluation will only confirm what has already been announced.
PolarCool's CEO Iman Ziai comments;
- The collaboration with SHL including all these ice hockey teams enables long-term and solid evaluation of the PolarCap® System.
- The agreement with SHL and the results of the clinical study provide an excellent basis for our continued expansion in international ice hockey as well as in other sports. There is already an interest in PolarCap® System from the sports organizations abroad that we have engaged in dialogue with. The plan is to implement and standardize cooling treatment with PolarCap® in all sports and leisure activities where brain trauma and brain damage can occur. Consequently, the agreement with SHL is a big step forward.
This information is information that PolarCool (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 person set out herein, on April 23, 2019.
For more information
Iman Ziai – CEO
+46 - 733 -99 23 17
About PolarCool AB (publ)
PolarCool AB (publ) is a medical device company that develops, markets, and sells products for sports medicine. The company focuses on treatment of concussive and sub-concussive brain injury with the portable cooling device PolarCap® System. PolarCool AB (publ) is based in Lund, Sweden, and its shares are listed on Spotlight Stock Market.