Revenio Group Corporation: Revenio Group Corporation – Changes in management
Stock Exchange Release, 15.4.2019 at 8.30 am EET
Insider information 15.4.2019, at 8:30 EET
REVENIO’S CEO TO CHANGE – HILDÉN TO LEAD CENTERVUE ACQUISITION FINALIZATION AND INTEGRATION
Revenio Group Corporation has signed an agreement to acquire all shares of the Italian company CenterVue SpA:n. The acquisition is estimated to be completed during the first half of 2019. The acquisition is extremely important for Revenio's growth strategy, and therefore the company's current CEO Timo Hildén will, based on his own wish, move to lead the acquisition and integration work as Senior Advisor. His successor will be announced in a separate release.
Revenio Group’s Chairman of the Board Pekka Rönkä comments:
”During the acquisition negotiations, Timo expressed his wish to focus on the finalization and integration of the CenterVue acquisition. Timo has been in the health technology industry for 40 years, of which 20 years he has served as CEO of various companies. During this time, he has gained considerable experience of coordinating and integrating different corporate cultures. He is definitely our best choice for this strategically important position to ensure that everything goes as planned. His focus will initially include, along with the CEO's duties and later full-time, finalization of the acquisition, launching and completing the integration work as well as supporting the new CEO in taking on his tasks. I am very happy with this solution, although it means appointing a new CEO. With the support of Timo, we also have an excellent opportunity to familiarize the new CEO to Revenio and its group companies' business and people. During his time as the managing director initially of Icare and then also of Revenio Group, Timo has built the companies to become success stories what comes to their customers, personnel, investors and other stakeholders. I would like to express my warm thanks to Timo on behalf of myself and the entire Board of the Revenio Group for the excellent work so far and wish him best of luck and success in the new task.”
Revenio Group Corporation
Board of Directors
For further information, please contact:
Chairman of the Board Pekka Rönkä, tel. +358 40 826 4356
Financial Supervisory Authority
The Revenio Group in brief
Revenio is a Finnish, globally operating health technology corporation whose worldwide success is based on a strongly patented intraocular pressure measurement technology.
The Revenio Group consists of Icare Finland Oy, Revenio Research Oy and Oscare Medical Oy. Revenio’s core business is to develop and commercialize effective and easily adopted devices to assist in the diagnostics of glaucoma and its monitoring during treatment.
Revenio seeks vigorous growth in health technology. Revenio aims to develop even more efficient and easily adopted methods for the early-stage detection of diseases with significance for public health. The focus of Revenio’s technology is on the early detection of glaucoma, skin cancer and asthma, and the monitoring of these during the treatment process.
In 2018, the Revenio Group's net sales totaled EUR 30.7 million, with its operating margin standing at 33.3%. Revenio Group Corporation is listed on Nasdaq Helsinki.