Bergen, Norway, 29 April 2024: Lifecare AS (LIFE), a clinical stage medical
sensor company developing the next generation Continuous Glucose Monitor
(CGM), have invested NOK 2 million through a private placement in RemovAid AS,
a medical technology company based in Oslo, Norway, after which Lifecare holds
81.1% of the shares in RemovAid.
RemovAid has developed a unique user-friendly medical device which for removal
of subdermal implants.
- To Lifecare RemovAid's medical device is an important part of the puzzle,
bring forward solutions for the entire life cycle of our glucose sensor. Our
CGM sensor will be injected under the skin and with some adjustments we
envision that the RemoveAid's technology will be applicable for removal of the
Sencell sensor from humans and animals, says CEO Joacim Holter at Lifecare.
RemovAid have established a specialized production line and the first sales of
the CE approved devices for removal of contraceptive implants started in 2023.
The company is ISO 13485 certified with a proprietary and patented product for
gentle and efficient removal of contraceptive implants. The product is CE
approved under MDR 2017/745 as a Class IIa device.
Removeaid experiences reoccurring sales in 2024, however still in low numbers.
- It is important to Lifecare that the product is on the market and in use,
says Joacim Holter.
RemovAid is in an early stage on the commercialization process, but the
company has established good foundation for further development. Lifecare
plans to make use of the technology for gentle an efficient removal of our
sensor technology, as well as ensure that the existing product will be
successful in the originally intended market for contraceptive implant
removal.
With Lifecare as the majority shareholder, RemovAid is positioned with
expertise and capital for growth as an integrated part of the Lifecare Group.
About us
Lifecare AS is a clinical stage medical sensor company developing technology
for sensing and monitoring of various body analytes. Lifecare's main focus is
to bring the next generation of Continuous Glucose Monitoring ("CGM") systems
to market. Lifecare enables osmotic pressure as sensing principle, combined
with the ability to manipulate Nano-granular Tunnelling Resistive sensors
("NTR") on the sensor body for read-out of pressure variations. Lifecare's
sensor technology is referred to as "Sencell" and is suitable for identifying
and monitoring the occurrence of a wide range of analytes and molecules in the
human body and in pets.
Contacts
For further information, please contact:
Joacim Holter, CEO, Lifecare AS, joacim.holter@lifecare.no, +47 40 05 90 40
Asle Wingsternes, Head of Communications & Public Affairs,
asle.wingsternes@lifecare.no, +47 41 61 42 52