The closure of the project will result in a write down of intangible assets of SEK 92 million that will be recognized in the 2024 financials and approximately SEK 25 million in additional restructuring cost in the first quarter of 2025.

Despite our best efforts, we have not been able to bring the BM950 to the market fast enough to support the current demand and therefore we are closing the project and adjusting our portfolio strategy.

“We understand the importance of delivering competitive and profitable solutions to our, customers,” says Torben Nielsen CEO of Boule Diagnostics. “Despite our best efforts, we have not been able to bring the BM950 to the market fast enough to support the current demand and therefore we are closing the project and adjusting our portfolio strategy.”

Collaborating with technology partners

Moving forward, Boule will focus exclusively on collaborating with technology partners to build a competitive product portfolio that meets the evolving needs of our customers in a timely and more cost-effective way, the company states.

“We recognize the rapid advancements being made by Asian technology companies, which have increased the pace of development in the industry in recent years,” says Nielsen. “This necessitates a different approach to how we bring innovation to the market and where we allocate our resources to ensure we remain relevant to our distribution partners and end-customers.”

It allows us to intensify investments in the profitable growing blood controls and OEM reagent business, where we are competitively differentiated and where we have seen above market growth in recent years.

“By partnering with leading technology companies, we can leverage cutting-edge innovations to strengthen our offering much faster and with less investments. It allows us to intensify investments in the profitable growing blood controls and OEM reagent business, where we are competitively differentiated and where we have seen above market growth in recent years. Finally, this strategy aligns with our long-term growth objectives and positions us to grow faster and more cost effectively,” he adds.

“It is not expected that this decision will adversely impact the 2025 growth projections and given the significant reduction in R&D spend it is projected that we will return to positive cashflow in the second half of 2025. We remain committed to this course, and the decision is in line with our previously communicated strategic priorities. To increase the operating margin through reduced structural costs, accelerate growth through strategic organic investments and building a better, stronger and growth-oriented portfolio,” concludes Nielsen.