iZafe Group AB has signed a Letter of Intent with Pilloxa AB regarding the acquisition of 100 percent of the shares in Pilloxa.
STOCKHOLM, SE / ACCESSWIRE / August 18, 2022 / iZafe Group (STO:IZAFE-B)
iZafe Group AB (publ) (“iZafe” or the “Company”) has signed a Letter of Intent with Pilloxa AB (“Pilloxa”) regarding the acquisition of 100 percent of the shares in Pilloxa (the “Acquisition”). Pilloxa has developed a technical platform for better compliance that pharmaceutical companies use to design digital patient support. A new company within digital health is created through the acquisition that is well positioned to become a leading company within better and more secure use of pharmaceuticals.
The Letter of Intent concerns 100 percent of the shares in Pilloxa. The purchase price is paid at 100 percent of 70,874,308 newly issued iZafe shares at an indicative value of approximately SEK 30 million. The indicative value of Pilloxa may be adjusted upwards or downwards depending on the development of the share price on the day of entry. Given that the indicative offer is accepted, the shareholders in Pilloxa will own 50 percent of the shares in the joint company after the takeover, which is expected to take place during Q3 2022. The acquisition is subject to approval at an extraordinary general meeting of iZafe Group AB. More information about the extraordinary general meeting will be published in a separate press release.
- For a long time, we have developed the drug dispensing robot Dosell and established a network of partners
and collaborations that see great value in medication data to enable proactive care. Through the acquisition of Pilloxa, we are now taking the next step towards our vision of improved health with better compliance, whose digital platform can be leveraged and integrated directly into our existing products and offerings. It creates an attractive and complete offer, access to a larger customer base and additional sales channels. Together we are creating something unique within the framework of digital health, says Anders Segerström, CEO of iZafe.
- With Pilloxa’s digital offering and long-term collaboration with the pharmaceutical industry and together with iZafe, we are able to offer a comprehensive solution for our customers; patients, healthcare professionals and the pharmaceutical industry. Pilloxa’s promise to our customers today is a complete digital solution for patient support within one month of the initiation meeting. We are therefore used to rapid integrations and will immediately begin to work on offering a joint digital solution, says Helena Rönnqvist, CEO of Pilloxa.
Incorrect or inadequate medication is a major and expensive problem for both the individual and drug development companies and costs society significant sums. Offering patients support to take their medication correctly has been shown to be an effective way to achieve better medical outcomes. Both iZafe and Pilloxa today offer solutions that support patients in safe medical treatment. The merger means a broader and attractive offer to both healthcare providers, the pharmaceutical industry and consumers, broadens the customer base and is expected to contribute to accelerated market penetration through clear sales and margin synergies.
About Pilloxa
Pilloxa is a Swedish company that develops apps for patients to support them in adherence to their treatment and to connect patients, healthcare providers and the pharmaceutical industry. The company provides a SaaS platform where pharmaceutical companies and other customers can design digital patient support quickly, securely and at a low cost. Connected aids such as Pilloxa’s self-developed smart medication dose can also be connected to the service to support patients in taking the correct medication. Customers and partners of Pilloxa include pharmaceutical companies such as Bayer Nordics and the Nordic office of Chiesi Global Rare Diseases, university hospitals such as the University Hospital in Oslo and universities such as the University of Gothenburg.
Advisor
Mangold Fondkommission AB is the financial advisor to iZafe in connection with the Acquisition.
Contacts
Anders Segerström, Chief Executive Officer
E-mail: anders.segerstrom@izafegroup.com
Phone number: +46 70-875 14 12
iZafe Group AB (publ.)
Södra Fiskartorpsvägen 20
114 33 Stockholm
E-mail: ir@izafegroup.com
www.izafe.se/investor-relations/
About Us
iZafe Group is a Swedish Life-Science company that develops and markets medical and digital security solutions to create safer drug handling at home. The company’s digital medication dispenser Dosell reduces the risk of incorrect medication, increases security for family and relatives and relieves public care personnel. The products form a holistic concept that facilitates patient medication and gives those who are treated at home better conditions for a happy and safe life. Customers today consist of public and private care providers in Sweden, the Nordic countries and globally. iZafe Group sells primarily through well-established partners who already have long and deep customer relationships with the priority customer groups. The head office is located in Stockholm.
The company is listed on the NASDAQ First North Premier Growth Market. FNCA Sweden AB is the company’s Certified Adviser. Phone: +46 (0) 8 528 00 399. E-mail: info@fnca.se. Further information is available at www.izafe.se/investor-relations/.
This information is information that iZafe Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-08-18 08:30 CEST.
Attachments
iZafe signs a Letter of Intent to acquire Pilloxa AB
SOURCE: iZafe Group
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