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Coala Life changes the estimated completion date of the acquisition of Vitrics Management to August 14, 2022

The due diligence process and the acquisition were estimated to be completed by July 31, 2022. New estimated completion date of the due diligence process and the deal is August 14, 2022.

Coala Life announced via a press release on June 9, 2022 that the company has entered into an agreement to acquire 100 percent of the shares in Vitrics Management Group Inc for a purchase price of USD 4.5 million on a cash and debt-free basis. The due diligence process and the acquisition were estimated to be completed by July 31, 2022. New estimated completion date of the due diligence process and the deal is August 14, 2022.

About us

Coala Life is a medical device company founded in Sweden focusing on cloud-based cardiac and pulmonary diagnostics. The company has developed and launched the Coala Heart Monitor - a multi-award winning, FDA-cleared and CE-approved product platform enabling long-term remote monitoring, analysis and algorithm-based diagnostics of heart and auscultation of lungs, remote in real-time. The Coala Heart Monitor is mainly marketed to healthcare providers as an Rx solution for use in patient’s everyday life and home environment. The company's solutions are based on over 10 years of R&D, and are protected by more than 30 patents. The head office is based in Uppsala, Sweden and since 2019, the US office is based in Irvine, California. More than 10,000 patients have used, been diagnosed or are under long-term monitoring with the Coala Heart Monitor. In the Coala Care Portal, there are currently more than 1,700 doctors and nurses connected to more than 500 care providers. The company is listed on Nasdaq First North Growth Market. For more information see www.coalalife.com

For more information, contact:

Dan Pitulia, CEO Coala Life AB
+46 70 972 08 38, dan.pitulia@coalalife.com
Richard Roa, CFO Coala Life AB
+46 70 816 61 45, richard.roa@coalalife.com

Certified Adviser
The company's Certified Adviser is Erik Penser Bank AB.
Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm,
tel: +46 (0) 8-463 80 00
email: certifiedadviser@penser.se

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Coala Life changes the estimated completion date of the acquisition of Vitrics Management to August 14, 2022

Datum 2022-07-29, kl 18:00
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Coala Life changes the estimated completion date of the acquisition of Vitrics Management to August 14, 2022
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