Jolife completes successful new share issue for SEK 50M
Lund, Sweden 2nd of July 2007
The Swedish medical technology company Jolife has successfully completed a new share issue directed at a number of new owners, which provides an injection of SEK 50m for the company. Alongside with the new share issue current major shareholders, CapMan and InnovationsKapital, converted SEK 15m in convertibles to new shares. The group of new owners comprises both institutional investors such as the Third Swedish National Pension Fund and Länsförsäkringar Skåne as well as private investors.
The Lund-based company Jolife's product, LUCAS™ Chest Compression System, is a unique patented automatic chest compression/decompression device for use in pre-hospital care for the treatment of sudden cardiac arrest. The concept is based on clinical experience and research, conducted by leading professionals in the field.
“Jolife has recently entered into a new phase of its international expansion by launching LUCAS in the US. The proceeds from the new share issue will be used primarily to further strengthen Jolife's international presence and to continued investments in research and development within the field of sudden cardiac arrest “, says Jolife AB CEO Erik von Schenck.
“I’m extremely pleased by the strong interest shown in the company and the LUCAS product during this financing process. The outcome of the transaction follows exactly and is in full harmony with the overall plan laid out for Jolife AB during 2006”, comments Jolife AB Chairman, Anders Williamsson.
Kaupthing Bank was engaged by Jolife AB as sole financial advisor in conjunction with the new share issue.
About LUCAS™ CPR
The LUCAS™ Chest Compression System assists ambulance and hospital professionals in saving cardiac arrest victims by providing effective, consistent and uninterrupted compressions. The AHA/ERC guidelines from 2005 emphasize the importance of chest compressions with minimal interruptions to keep up the blood flow to the brain and heart and to increase the chances of successful survival. In addition, LUCAS increases flexibility of the rescuer to focus on other life-saving tasks, as well as increasing the safety in a moving ambulances or in the catheter laboratory.
About Jolife AB
Jolife is dedicated to increasing the survival rates related to sudden cardiac arrest and the quality of life of the survivors by developing innovative devices for resuscitation. Founded in 2000, the company works closely with leading physicians and paramedics in research and development. The work has led to groundbreaking knowledge about the physiological effects of a cardiac arrest and the significance of quality compressions. The LUCAS Chest Compression System is available for sale in the US, Europe and several international markets. Jolife is based in Sweden, and markets its products through an exclusive distributor agreement with Physio-Control, Inc – a division within Medtronic.
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For more information, please contact: Erik von Schenck, CEO, Jolife AB, +46 46 286 50 00