Revenio Group Corporation, Stock Exchange Release, 7 May 2015 at 12:10
REVENIO DIVESTS ITS SOFTWARE BUSINESS BY SELLING ITS LAST NON-CORE COMPANY
Revenio Group Corporation has sold the entire share capital of Done Software Solutions Oy (DSS) to Roima Intelligence Oy. DSS, which had been transferred to discontinued operations, formed part of the Revenio Technology and Services segment's Software business. In accordance with its strategy, Revenio is focusing on health technology and has now finalized the related measures by selling DSS, its last non-core company.
The parties have agreed not to disclose the sale price. The sale of Done Software Solutions Oy, which was transferred to discontinued operations at the end of 2014, will not affect Revenio Group Corporation's financial performance for 2015 or its previously announced profit guidance. It is estimated that the sale will boost the Group's cash flow by approximately EUR 1.6 million.
"Done Software Solutions was the last non-strategic company within our Group and we are happy that we found for DSS and its personnel the right kind of buyer that will continue to develop its business as part of a larger whole. Now that we have finalized the divestment of these non-core operations, we can focus all of our resources on developing our health technology businesses. We aim to develop even more efficient and easily adopted methods for the early-stage detection of diseases that are important to public health. The focus of our screening technology lies in the early detection of glaucoma, osteoporosis, skin cancer and asthma, and the monitoring of these during the treatment process," says Olli-Pekka Salovaara, President and CEO of Revenio Group.
For further 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 in tonometers. The Revenio Health Tech segment comprises the business operations of Icare Finland Oy, Revenio Research Oy and Oscare Medical Oy, which specializes in osteoporosis screening and monitoring. The common denominators of Revenio's business operations include screening, follow-up and the global need to make cost savings in health care via preventive measures. Revenio seeks vigorous growth in health technology, both organically and through acquisitions and mergers. Revenio aims at developing even more efficient and easily adopted methods for the early-stage detection of diseases with significance for public health. The focus of Revenio's screening technology lies on the early detection of glaucoma, osteoporosis, skin cancer and asthma, and the monitoring of these during the treatment process.
In 2014, the Revenio Group's net sales totaled MEUR 16.0, with its operating profit (EBIT) from continuing operations standing at 27.5%. The Revenio Group Corporation is listed on NASDAQ OMX Helsinki.