FRISQ enters into a formal exclusive process to divest the business to Cambio with a target transaction date in September 2022. CEO George Thaw steps down.

The Board of Directors of FRISQ Holding AB (FRISQ”) has decided to enter into a formal exclusive process with the objective to divest its operative business to Cambio Health Care System AB (“Cambio”). After several months of exploring the best options to secure the continued development of FRISQ, the Board has decided to accept a proposal from Cambio. Both parties see large synergies in a potential deal and are optimistic about achieving a successful transaction.

The proposal is to enter into an exclusive process to finalize the necessary due diligence required by Cambio, with the objective to reach a final and binding offer to acquire the operational business of FRISQ in the beginning of September. FRISQ will then call an EGM to secure the shareholders vote that is required to finalize a potential transaction. The target is to achieve closing of the deal no later than the end of September.

“We are very excited about the chance to become part of the Cambio family as it will allow FRISQ to scale more rapidly as part of one of the largest EMR systems in the Nordics. We also see that this development will allow FRISQ to meet our customers’ needs in a more resource efficient way, both in the short and long term”, says Mats Lindstrand, new temporary CEO of FRISQ.

”We are truly excited about the possibilities of being able to welcome FRISQ, its employees, partners and customers to Cambio. The portfolio of FRISQ will fill a very important part of our offering going forward but more importantly we will add lots of new fantastic talent across the board of our business. Now our focus will be on completing the Due Diligence and conclude the transaction during Q3”, says Rami Avidan, CEO of Cambio.

During the exclusivity period, Cambio will extend a loan of maximum SEK 6 million to FRISQ and FRISQ will discontinue discussions with other potential acquirers during the period.

The current FRISQ CEO, George Thaw, has decided to leave the company and Mats Lindstrand, current Chairman of FRISQ Holding AB, will take over as temporary CEO during this process. Current board member Per-Egon Johansson will take over as chairman of the board. No other changes to the board composition is planned.

“We would like to thank George for his valuable contribution in developing FRISQ to a proven valuable system for our customers”, says Mats Lindstrand.

The Board of FRISQ Holding will publish more information when it is available.

About FRISQ:

FRISQ is a healthtech company built on the conviction that the quality of the care you get should not be dependent on your ability to navigate a complex system and constantly evolving treatments. The software solution FRISQ Care enables the creation of personalized, digital care plans that facilitate collaboration and secure information sharing between care teams, doctors and patients through the same platform.

Since 2016, FRISQ has been listed on Nasdaq First North Stockholm under the symbol “FRISQ”. FNCA Sweden AB is FRISQ’s Certified Adviser and can be reached via the following contact information: +46 8 528 00 399, info@fnca.se

The publication is a translation of the original Swedish text. In the event of inconsistency or discrepancy between the Swedish version and this publication, the Swedish language version shall prevail.

For more information, please visit: www.frisqholding.se

FRISQ enters into a formal exclusive process to divest the business to Cambio with a target transaction date in September 2022. CEO George Thaw steps down.

FRISQ enters into a formal exclusive process to divest the business to Cambio with a target transaction date in September 2022. CEO George Thaw steps down.

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