1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. Coala-Life Group AB (publ)
  6. News
  7. Summary
    RNBS   SE0017083983

COALA-LIFE GROUP AB (PUBL)

(RNBS)
  Report
Delayed Nasdaq Stockholm  -  09:55 2022-08-09 am EDT
2.901 SEK   +1.42%
07/29Coala Life changes the estimated completion date of the acquisition of Vitrics Management to August 14, 2022
AQ
07/18CEO buys shares in Coala-Life Group AB (publ)
AQ
07/04Coala Life is pleased to announce the launch of our new website.
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Coala Life intends to acquire Vitrics Management, a US company active in Remote Patient Monitoring

06/09/2022 | 02:01am EDT

Coala-Life Group AB (publ), has today entered into an agreement to acquire 100 percent of the shares in Vitrics Management Group Inc (“Vitrics”) for a purchase price of USD 4.5 million on a cash and debt-free basis. Vitrics is a fast-growing service company in Remote Patient Monitoring (RPM). The acquisition is in line with Coala Life's strategy, with clear sales synergies and contributes positively to the result from day one.

“The acquisition of Vitrics strengthens our offering for remote patient monitoring of patients with chronic diseases. Vitrics’ platform and customer base will be able to be scaled up through our national sales force, enable faster organic growth and effectively get the Coala Heart Monitor out to even more patients who need it. In this way, we create faster critical mass and credibility with an accelerating growth in both the acquired and existing operations in USA”, says Dan Pitulia, CEO of Coala-Life Group AB.

Vitrics was founded in 2021 by a group of healthcare professionals in Houston, Texas, to offer healthcare providers various services in Remote Patient Monitoring (RPM). Vitrics’ turnkey RPM solutions include various types of monitoring services and platform solutions that manage the monitoring of chronically ill patients at home, on behalf of American healthcare providers. The company currently has just under 1,000 chronically ill patients who are followed over a longer period of time with various connected medical technology products in their homes.

During the start-up year 2021, Vitrics had sales of approximately USD 0.7 million with break-even. For 2022, the company is estimated to have sales of between 1.9 and 2.2 million US dollars with an EBITDA margin in excess of 40 percent. Vitrics currently has 15 full-time employees and 35 contractors on an hourly basis who work with monitoring.

RPM is a new healthcare model in the US that is developing rapidly with Covid-19 as the accelerator. RPM is today reimbursed by Medicare and all American insurance companies and millions of patients are now regularly monitored remotely by their caregivers. To qualify as an RPM patient, you must have an acute or chronic illness, which over 150 million Americans have. The challenge with RPM for healthcare providers is that the handling of products, data and follow-up of patients is extensive. Vitrics has developed a comprehensive service where you effectively run the RPM programs on behalf of caregivers and share the benefits.

“We are proud to join forces with Coala Life and have the opportunity to accelerate the roll-out of our services in the fast-growing, national RPM market. Coala has developed a unique solution for heart patients that we can now supplement our offer with ", comments Dr. Gary Spangler, co-founder of Vitrics Management Group.

Vitrics is acquired for a total payment of USD 4.5 million in cash on a cash and debt-free basis. The deal is expected to close after a usual due diligence process, no later than 31 July 2022.

© Modular Finance, source Nordic Press Releases

All news about COALA-LIFE GROUP AB (PUBL)
07/29Coala Life changes the estimated completion date of the acquisition of Vitrics Manageme..
AQ
07/18CEO buys shares in Coala-Life Group AB (publ)
AQ
07/04Coala Life is pleased to announce the launch of our new website.
AQ
06/10CEO buys shares in Coala-Life Group AB (publ)
AQ
06/09Coala Life intends to acquire Vitrics Management, a US company active in Remote Patient..
AQ
06/09COALA-LIFE GROUP AB (OM : COALA) agreed to acquire Vitrics Management Group Inc for $4.5 m..
CI
05/30Bulletin from annual general meeting in Coala-Life Group AB (publ) on 30 May 2022
AQ
05/30Coala-Life Group AB Elects Christian Jørgensen as New Board Member
CI
05/24Coala-Life Group AB quarterly report one 2022
AQ
05/17Coala Life presents Q1 report via live webcast
AQ
More news
Financials
Sales 2021 4,06 M - -
Net income 2021 -151 M - -
Net cash 2021 26,7 M - -
P/E ratio 2021 -0,54x
Yield 2021 -
Capitalization 227 M 22,4 M -
EV / Sales 2020 -
EV / Sales 2021 113x
Nbr of Employees 29
Free-Float 98,3%
Chart COALA-LIFE GROUP AB (PUBL)
Duration : Period :
Coala-Life Group AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 2,86
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Dan Christer Pitulia President & Chief Executive Officer
Richard Roa Chief Financial Officer
Per Carendi Chairman
Magnus Samuelsson Chief Technology Officer & Medical Director
Johan Eckerdal Vice President-Research & Development
Sector and Competitors
1st jan.Capi. (M$)
COALA-LIFE GROUP AB (PUBL)-71.60%22
MASIMO CORPORATION-47.59%8 582
NOVOCURE LIMITED3.41%8 132
SHOCKWAVE MEDICAL, INC.25.13%7 938
PENUMBRA, INC.-41.94%6 407
GETINGE AB-43.74%5 970