Date published:
January 15, 2020

Signs Joint Venture to finalize technical development and explore further opportunities

Lifecare AS and IMS Capital Partners GmbH have established Digital Diagnostics AG to complete Lifecare AS’ sensor technology, Sencell. The agreement between the parties entails that IMS Capital Partners GmbH will finance the completion of Sencell, so that Lifecare AS does not need the planned capital increase in the second half of 2020. Lifecare AS keeps all its rights to its existing IP and has full access to future IP.

By IMS Capital Partners GmbH investing EUR 7,500,000 as working capital in Digital Diagnostics AG, Sencell will be further developed and completed. In return, Lifecare AS will give Digital Diagnostics AG a license agreement for Lifecare AS’ technology and IP in all business areas beyond Lifecare AS’ business area (long-term continuous glucose monitoring of patients with diabetes type 1 and 2). The license is not exclusive to Digital Diagnostics AG, but Digital Diagnostics AG expects great value creation as a result of immediate access to the Lifecare technology. This value creation will benefit all shareholders. Digital Diagnostics AG will be owned 50,1 % by IMS Capital Partners GmbH, 25 % by Lifecare AS and 24,9 % by the company’s employees and Board.

When Lifecare AS’ sensor technology is developed, Lifecare AS will have full ownership of the original IP that has been developed up until 15 January 2020. Lifecare AS will also have unlimited rights to utilize all technology and IP developed through the cooperation with Digital Diagnostics AG, for use within Lifecare AS’ business area.

For Lifecare AS’ shareholders the joint venture with IMS Capital Partners GmbH entails:

  • Lifecare AS’ costs to further develop Sencell is covered through Digital Diagnostics AG, which is financed by IMS Capital Partners GmbH.
  • Therefore, there is no need for the planned capital increase in Lifecare AS in the second half of 2020.
  • Through a 25% ownership in Digital Diagnostics AG, Lifecare AS’ shareholders will have the opportunity to be part of the further value creation in Digital Diagnostics AG.
  • Lifecare AS’ business continues as planned, with significantly reduced costs.
  • The shareholder composition in Lifecare AS will not change as a result of the
  • agreement. IMS Capital Partners GmbH will not get ownership in Lifecare AS.

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