Lifecare ASA

Major Shareholding Notification • Apr 29, 2024

LIFE Lifecare becomes majority shareholder in RemovAid

LIFE Lifecare becomes majority shareholder in RemovAid

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