Cambio and FRISQ enters into a formal exclusive process to divest FRISQ to Cambio with a target transaction date in September 2022
FRISQ board has decided to enter into a formal exclusive process with the objective to divest its operative business to Cambio Healthcare System AB (“Cambio”). After several months of exploring the best options to secure the continued development of FRISQ, the Board of Directors of FRISQ Holding AB has decided to accept a proposal from Cambio. Both parties see large synergies in a potential deal and are optimistic about achieving a successful transaction.
The proposal is to enter into an exclusive process to finalize the necessary due diligence required by Cambio, with the objective to reach a final and binding offer to acquire the operative business of FRISQ by the beginning of September. FRISQ will then call an EGM to secure the required shareholders vote to finalize a potential transaction. The target is to achieve closing of the deal no later than the end of September.
During the exclusivity period Cambio will extend a loan of maximum SEK 6 million to FRISQ.
FRISQ will during this time of exclusivity discontinue discussions with other potential acquirers.
“We are very excited about becoming a part of the Cambio family as it will allow FRISQ to scale more rapidly as part of one of the largest EMR systems in the Nordics. We also see that this development will allow FRISQ to more resourcefully meet our customers’ needs both in the short and long term” says Mats Lindstrand, temp CEO of FRISQ, in a comment.
”We are truly excited about the possibilities of being able to welcome FRISQ, its employees, partners and customers to Cambio. The portfolio of FRISQ will fill a very important part of our offering going forward but more importantly we will add lots of new, fantastic talent across the board of our business. Now our focus will be on completing the Due Diligence and conclude the transaction during Q3” says Rami Avidan CEO of Cambio
More information will be published when it is available.
About FRISQ
FRISQ is a healthtech company built on the conviction that the quality of the care you get should not be dependent on your ability to navigate a complex system and constantly evolving treatments. The software solution FRISQ Care enables the creation of personalized, digital care plans that facilitate collaboration and secure information sharing between care teams, doctors and patients through the same platform.
About Cambio
Cambio Healthcare Systems was founded in 1993 and has since delivered comprehensive IT solutions for healthcare organisations. Today, Cambio is an e-healthcare company providing smart, reliable and user-friendly solutions to improve healthcare and patient safety with a market leading position in the Nordics and UK presence including more than 100,000 users. We are committed to improving healthcare and patient safety.
This disclosure contains information that Sanolium is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 21-07-2022 08:00 CET.
For further information, please contact:
Rami Avidan
CEO
rami.avidan@cambio.se
Jenny Styren
Chief Marketing & Communication Officer
+46 7 0 79 34 83
jenny.styren@cambio.se
Sanolium AB, parent of the Cambio Group (“Cambio” or “the Company”) operating entities, is an e-health company providing comprehensive IT solutions to improve healthcare and patient safety. Cambio is one of the largest suppliers in Scandinavia and a growing player in the European market, with more than 170,000 users across regions and municipalities, general and university hospitals, health centers and specialist units. Cambio has offices in Sweden, Denmark, United Kingdom and Sri Lanka.