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Brighter merges the jDome business with Bestic

agreement

Via its subsidiary, Brighter Two AB, Brighter acquired Bestic, a Swedish robotics company that develops and sells products and assistive devices for the healthcare and nursing sector.

In conjunction with the acquisition, Brighter Two, which develops and sells jDome BikeAround, is merged with Bestic.  Brighter Two is also changing its name to Camanio Care AB and will be listed on an appropriate marketplace in the first quarter of 2017.

“On a formal level, the jDome company is buying Bestic, but we consider this to be more of a merger with clear synergies. When we acquired jDome BikeAround, we already saw that this is a market that is worth developing and that the market for healthcare and nursing should embrace future consolidation. Through the restructuring, the sale of jDome can be made much more efficient. Furthermore, we see Bestic’s product range as complementing jDome, and together we can take better advantage of the market potential,” says Henrik Norström, CEO for Brighter Two and COO for Brighter.

Bestic AB currently offers a number of products, assistive devices and trainings related to eldercare and nursing. The company is represented via distributors in Europe and Asia. Furthermore, we have our own sales force in Sweden and three employees with operations in USA. The merger will optimize the companies’ common resources and create a wider array of offerings, consisting of products and services for healthcare and social assistance technology, which is directed toward the same market segment. Apart from a broader skill base, a larger sales organization and geographic reach, the companies are also closely related in terms of values and culture.

The new company will be led by Bestic’s current CEO, Catharina Borgenstierna, who has a solid background in medical technology, including being Global Marketing Director of Anesthesia at the Getinge Group and a Product Manager at Siemens. Catharina is also a deputy board member of the Swecare Foundation.

“Bestic and the jDome team are currently working with the same customer groups, and now when we become Camanio Care, we will not only be able to take advantage of each other’s knowledge, but we will also have an expanded distribution network, larger sales force and new contacts. Together, we will become a larger and stronger company, and we see major growth potential for our joint offerings. In addition, we also see possibilities for taking advantage of future opportunities for consolidation on the innovative market for nursing and healthcare assistive devices, which is currently made up of many small companies,” says Catharina Borgenstierna, CEO at Bestic.

Formally Camanio Care pays MSEK 13.6 for 100% of the outstanding shares in Bestic AB and payment is made through an offset issue of 3,228,740 shares in Camanio Care. After the acquisition Brighter AB will own 60% and Bestic AB’s shareholders 40% of the shares in Camanio Care. Subsequently a number of the Brighter AB’s shares in Camanio Care will be distributed to Brighter AB’s existing shareholders (Lex ASEA).

Prior to the planned distribution of shares and the upcoming listing on a marketplace, the company’s financial position will have strengthened via a Private Placement. Therefore the company will not be in need of additional capital for the public listing, which is scheduled to take place during the first quarter of 2017.

“We are extremely satisfied with how the jDome business has developed, and since we see a lot of potential in the future, we have no plans to let go of our ownership in Camanio Care. We consider Camanio Care an important part in the ecosystem of connected health- and nursing care, where The Benefit Loop plays a central role. Through this deal, we can unleash resources at Brighter and put additional focus on the launch of Actiste, as well as expand the business surrounding our IP platform. Now, jDome BikeAround will also get extra support for further growth of the business via Bestic,” says Truls Sjöstedt, Brighter’s CEO and founder.