Revenio Group Corporation: REVENIO BUYING MAJORITY OF

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News Desk 2018

Dec 4, 2013 at 2:15 AM

Revenio Group Corporation: REVENIO BUYING MAJORITY OF OSCARE MEDICAL

Revenio Group Corporation Stock Exchange Release December 4, 2013 at 09:00 hrs. REVENIO BUYING MAJORITY OF OSCARE MEDICAL Revenio Group Corporation signed a contract today to buy the majority of Oscare Medical Oy, increasing its ownership of the company to 53% from a previous level of 22.5%. Revenio will pay the nominal value of Oscare Medical's shares. A key component of the financial effect of the sale consists of funding arrangements whereby Revenio will take responsibility for funding provided to Oscare by other shareholders, worth about EUR 0.5 million. Revenio will also assume main responsibility for the company's business operations and will fund, to a reasonable extent, costs related to bringing products into the market and to developing the product further. "Owning the majority of Oscare Medical fits our strategic objective to expand our operations as a health technology corporation. We will begin work right away to begin the sale of Oscare products. We are looking into ways of utilizing Icare's worldwide distribution channel to include these products. We believe that the technology that can detect osteoporosis will expand the product range we can offer to health care professionals. However, bringing a product into the market requires determination and long-term efforts. Profit expectations are moderate to begin with owing to the initial investments that have to be made, but we believe the product will have substantial market potential," explains Revenio Group's CEO Olli-Pekka Salovaara. Creating marketable products is estimated to take 2-3 years, after which the shareholders have agreed to reassess the ownership structure based on the outlook and success up to that point. Oscare Medical's OsCare Sono(TM) product is an osteoporosis detection device based on Finnish research. The device helps in screening for osteoporosis, diagnosing it and in treatment follow-up. This small, mobile device allows the cost-effective screening of large populations and reduces the incidence of minor and avoidable, osteoporosis-related fractures. The measurement is taken from the wrist and is quick, painless and free of ionizing radiation. Osteoporosis is a worldwide and growing problem, with some 40,000 new diagnoses made annually in Finland. Oscare Medical Oy received CE approval in August 2013, which enables the company to start selling the product in Finland and 24 other EU countries. The arrangement has no effect on Revenio Group's financial guidance for 2013. Revenio Group Corporation Olli-Pekka Salovaara President & CEO For additional information, please contact President & CEO Olli-Pekka Salovaara, tel. +358 40 567 5520 olli-pekka.salovaara@revenio.fi www.revenio.fi DISTRIBUTION: NASDAQ OMX Helsinki Financial Supervisory Authority (FIN-FSA) Principal media www.revenio.fi The Revenio Group in brief Revenio is a Finnish health tech group whose core business is tonometers. The Revenio Health Tech segment comprises the business operations of Icare Finland Oy. The widely patented Icare product family is the current cornerstone of the Group's success. Revenio seeks vigorous growth in health technology, both organically and through acquisitions and mergers. The Revenio Group also includes other business operations, which are grouped under the Technology and Services segment. This segment's operations have a shared global market and represent the cutting edge of technology products and services in their industry. These businesses are extremely profitable in their industries and generate positive cash flow. In 2012, the Revenio Group's net sales totaled EUR 25.4 million, with its operating margin standing at 19.4%. The Revenio Group Corporation is listed on NASDAQ OMX Helsinki. [HUG#1747383]

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