Sedana Medical's CEO divests shares – remains a committed and long-term shareholder
Christer Ahlberg, CEO of Sedana Medical AB, has informed the company that he has sold 75 000 shares in Sedana Medical, representing approximately 0.33% of the total outstanding number of shares and 22.5% of his total shareholding in the company. Following the transaction, Christer Ahlberg owns 259 000 shares in Sedana Medical.
“The divestment is made for personal financial reasons only and I do not intend to sell additional shares for the foreseeable future. The proceeds from the transaction will mainly be used for the purchase of a new home. I have great faith in our future prospects at Sedana Medical and I look forward to continuing to lead the company going forward,” said Christer Ahlberg.
Following the share sale, Christer Ahlberg owns 259,000 shares, which corresponds to an ownership of 1.12% of the company. Despite the divestment, Christer Ahlberg's holding in Sedana Medical increased during the year from 200,000 shares to 259,000 shares after exercising warrants earlier this year.
The divestment will be reported to Finansinspektionen in accordance with current regulations.
The shares have been sold to a major institutional shareholder who already has a significant holding in the company.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
E-mail: christer.ahlberg@sedanamedical.com
Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.
The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, certifiedadviser@penser.se.
The information was released for public disclosure, through the agency of the contact person above, on September 30, 2020 at 20.00 p.m. (CET).
About Sedana Medical
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa for the administration of volatile anaesthetics. Through a combination of AnaConDa and the candidate drug IsoConDa (isoflurane), Sedana Medical provides inhaled sedation for mechanically ventilated intensive care patients. The company is working to obtain market approval in Europe for inhaled sedation in intensive care with the pharmaceutical IsoConDa® (isoflurane) during the second half of 2021.
Today, mechanically ventilated intensive care patients are sedated intravenously which leads to several challenges for both patients and care givers. Challenges that are solved by inhaled sedation. Based on an estimate of seven to eight million patients being sedated in intensive care due to mechanical ventilation globally, on average three to four days, Sedana Medical estimates the total market potential to SEK 20-30 billion, evenly distributed between the US, Europe and Asia. Three years after market approval in Europe Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent. The company has initiated a process to obtain market approval in the US in 2024. Registration activities have also been initiated in other markets outside the EU.
Sedana Medical has direct sales in the Nordic countries, Germany, Benelux, France, Great Britain and Spain as well as external distributors in parts of the rest of Europe, Australia, Canada, China, India, Israel, Japan, Mexico and South Korea. The company was founded in 2005 and is headquartered in Stockholm, Sweden, with medical device development in Ireland.