Healthcap increases its holding in Q-Med

HEALTHCAP INCREASES ITS HOLDING IN Q-MED * HealthCap KB utilizes its subscription and call options and increases its holding in Q-Med to 13.7%. "HealthCap has been a stable and long-term owner and contributed substantially to the work of the Board. We are pleased that HealthCap is increasing its holding in Q-Med," says Per Olof Wallström, Q-Med's President and CEO. Since June 1997 HealthCap has been Q-Med's next largest owner. After the dilution effect when ownership was spread in connection with the listing of Q-Med on the O-list of the OM Stockholm Stock Exchange in December 1999, HealthCap owned 3.4% of Q-Med. In connection with HealthCap becoming an owner of Q-Med in June 1997, Q- Med issued options for subscription to 1,500,000 new shares for the benefit of HealthCap. Furthermore, HealthCap received 1,065,000 call options, which are redeemable from Q-Med's principal owner Agerup Holding. Both the subscription options and the call options are now being utilized by HealthCap. The subscription options are being redeemed at an issue price of SEK 18.67 per share. After utilizing the options HealthCap's holding in Q-Med amounts to 13.7% of the shares and votes. A further 875,000 subscription options have been issued, for the benefit of Q-Med's personnel. After full dilution HealthCap's holding amounts to 13.3% of the shares and votes. HealthCap KB is a Swedish venture capital fund which was founded at the end of 1996. The fund invests in the medical sector and investors in HealthCap include the 4th and the 6th Swedish Pension Insurance Funds, Skandia, Astra, Pharmacia and Upjohn, Hagströmer & Qviberg, and Knut and Alice Wallenberg's Foundation. Exclusive advisers to the fund are Odlander, Fredrikson & Co AB. Björn Odlander has been a member of Q-Med's Board since 1997. On February 29, 2000 Q-Med had just under 9,000 shareholders. The major shareholders are given in the table below. Shareholder Number of shares Shares and votes, % Agerup Holding 12,835,000 52.8 HealthCap KB 3,340,000 13.7 Skandia 500,000 2.1 Banco Funds 294,900 1.2 Handelsbanken Funds 294,500 1.2 Investor 170,000 0.7 Anders Milton 157,500 0.7 Tomas Billing 154,500 0.6 Other shareholders 6,558,600 27.0 Total 24,305,000 100.0 Source: Securities Register Centre share register at February 29, 2000, including the latest known changes. March 22, 2000 Uppsala, Sweden Q-Med AB (publ) Per Olof Wallström, President and Chief Executive Officer Queries should be addressed to Per Olof Wallström, President and CEO, on +46(0)18-474 90 00 or +46(0)70-974 90 70. Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. E-mail: info@q-med.com. Home page: www.q-med.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/22/20000322BIT00160/bit0001.doc http://www.bit.se/bitonline/2000/03/22/20000322BIT00160/bit0002.pdf