Apptix_OSE extended release_17042018
APPTIX ASA ACQUIRES SWEDISH EVIMERIA EMR AB
2018-04-17 19:50:01
APPTIX ASA ACQUIRES SWEDISH EVIMERIA EMR AB Apptix ASA (OSE ticker: APP) has on April 17, 2018 entered into a Stock Purchase agreement to acquire 100 % of shares of the Swedish company Evimeria EMR AB. Due to the size of the transaction an Information Document is required in accordance with section 3.5 of the "Continuing obligations of stock exchange listed companies". The Information Document will be published within the required 30 days timeframe. Evimeria EMR AB Evimeria EMR AB, is based in Gothenburg with 25 employees, including a strong development team. The company has developed the system called "Webdoc", a cloud based medical record system with integrated add-on services for the private and public health care industry. In addition to revenue from license and add-on services, the company also offer training and consulting services. Furthermore, Evimeria offer several different services helping their customers to transform into the new digital era of the health care industry. Examples of services are video -tele health meetings, chat and other online channels. Evimeria has today approximately 250 customers in Sweden. The company's income reached SEK 28 million in 2017 with an EBIT of SEK 4 million. The balance sheet as per December 31, 2017 shows total assets of SEK 19,6 million, including intangible assets of SEK 7,5 million and cash of SEK 5,0 million. Total current liabilities are booked at SEK 8,1 million. The development in Scandinavian and European healthcare systems is a shift from inpatient to outpatient care. Hospital care is being replaced by home and outpatient care. In addition, demographics in all developed countries is changing rapidly and the cost of providing health care services is growing fast. These changes necessitates a shift towards new technology and digital solutions. Evimera is well positioned for further growth both from a product, system and market perspective. The digital transformation of the healthcare industry is a huge opportunity which is expected to grow significantly over the coming years. While the company's customers as of today is based in Sweden, the other Scandinavian countries are considered as potential markets with significant potential, as well as many other European countries. Evimerias strategy going forward is to continue to develop and expand digitalisation that helps customers to meet the future challenges in providing efficient and qualitative healthcare services. The Board and Management of Evimeria consist of Jesper Jannerberg, CEO, Lars Forsberg, CFO, Dennis Höjer, Sales Director and Niclas Hugosson, Business Developer and Founder. Johan Lindqvist, the Chairman and major shareholder of Apptix ASA, is one of the sellers. He has not participated in any decision on behalf of Apptix ASA related to the transaction. The Transaction The purchase price is agreed to NOK 75 million and will consist of 81.105.107 shares in Apptix plus a cash consideration of NOK 28,5 million. Following closing of the transaction the sellers and current shareholders in Evimeria, will hold a total of 49,9 % of the issued shares in Apptix ASA. All sellers and employees of Evimeria will be subject to a 24 month non-compete obligation. Further, all the consideration share will have a lock-up and will not be tradeable for a period of 24 months from closing. Closing of the deal requires Apptix shareholder approval and subsequent issuance of 81.105.107 new shares. The transaction will be presented to the shareholders in the Annual Shareholder Meeting on May 9 in Oslo. If approved Apptix ASA will following the issuance of the consideration shares, then have a total of 162.535.285 issued shares. The cash consideration of NOK 28,5 million will be covered by equity. The transaction is expected to be closed on or about May 9 once the consideration shares have been issued and the cash consideration is paid. The Board will further propose to the May 9 shareholder meeting a dividend payment of NOK 0,35 per share to the shares issued prior to the consideration shares. No special agreements have been entered into or are expected to be entered into, with neither the Board nor the Management in either Apptix or Evimeria in connection with the transaction. Apptix ASA strategy and future With this acquisition, Apptix ASA has revitalized its strategy and will following its sale of its US operations, again provide software and consulting services to a targeted market segment through wholly-owned subsidiaries. For further information, please contact: Johan Lindqvist, Chairman of the Board, at + 46 73 355 0935 or Terje Rogne, Board member, + 47 472 02 200 This is an announcement under section 3.4 of the Oslo Børs "Continuing obligations of stock exchange listed companies".