Brief: Observe Medical To Discontinue Process Of Acquiring Ferrari L

Observe Medical ASA

20/04/2023 08:35

April 20 (Reuters) - Observe Medical ASA  OBSRV.OL :
    * UPDATE ON ACQUISITION OF FERRARI L. AND SHAREHOLDER LETTER
    * INFORMED FERRARI L., AN ITALIAN MANUFACTURER OF MEDICAL
EQUIPMENT, THAT COMPANY HAS DECIDED TO DISCONTINUE PROCESS OF
ACQUIRING FERRARI L
    * CONTEMPLATED ACQUISITION WAS ORIGINALLY ANNOUNCED IN A
PRESS
RELEASE ON 14 DECEMBER 2022
    * THIS DECISION IS RESULT OF OBSERVE MEDICAL HAVING
IDENTIFIED A
MORE COST -EFFICIENT MANUFACTURER ALTERNATIVE
    * THIS DECISION WILL REDUCE COMPANY'S FUTURE FUNDING NEEDS
AND
WILL HAVE AN IMPACT ON PREVIOUSLY COMMUNICATED RUN-RATE TARGET
OF NOK 200-250 MILLION BY YEAR-END

Source text for Eikon:  ID:nObiGc1Vna 
Further company coverage:  OBSRV.OL 

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