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Coala-Life Group AB (publ) files for bankruptcy

MAR

The Board of Directors of Coala-Life Group AB (publ) ("Coala Life" or the "Company") has decided to file for bankruptcy. The application will be submitted to the Stockholm District Court today, Friday, March 22, 2024.

The decision to file for bankruptcy is based on the fact that the Company's efforts to find a solution to the liquidity problem have not been successful, with the result that salaries and current payments cannot be paid. The collection of accounts receivable has failed, and long-term discussions about paying collaborations and capital injections have not led to the intended results.

The Board of Directors concludes that the Company is insolvent and thus unable to pay its debts and that continued operation is not possible.

For more information, please contact:

Dan Pitulia, CEO Coala Life AB
+44 7849 257 532, dan.pitulia@coalalife.com
Robin Danielsson Källmark, Interim CFO Coala Life AB
+46 72 188 84 09, robin.danielsson.kallmark@coalalife.com

Certified Adviser
The Company’s Certified Adviser is Carnegie Investment Bank AB (publ).

About us

Coala-Life Group AB (“Coala Life” or the “Company”) founded in 2015, is a Cloud Based Software as a Service provider, and medical device developer and reseller, listed on Nasdaq First North Growth Market. The Company focuses on B2B solutions for managed Remote Patient Monitoring (“RPM”), offering medical care providers, primarily in the US, with a highly scalable, cost-efficient platform to remotely and virtually manage large volumes of patients suffering from chronic diseases. The company offers care providers a comprehensive solution and lifts the administrative work from the care providers regarding, amongst other things, follow-up, 24/7 monitoring, as well as the reimbursement process from state and private health insurance companies. Patients are monitored long-term in everyday life and typically have diabetes, obesity, and/or cardiovascular disease. 
For more information see www.coalalife.com

This information is information that Coala Life is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-03-22 08:00 CET.

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Coala-Life Group AB (publ) files for bankruptcy

Datum 2024-03-22, kl 08:00
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Coala-Life Group AB (publ) files for bankruptcy