CombiQ News

PRESS RELEASE – CombiQ AB acquires Magnea AB

June 26, 2017

On May 31, 2017, CombiQ AB acquired all shares in Magnea AB. The acquisition will complement CombiQ within the business area “IoT for healthcare and elderly care”. Access is made immediately.

Magnea is a Swedish company that develops advanced motion detection in healthcare and elderly care. By measuring specific movements, Magnea motivates patients and users to be physically active, and provides staff with an objective tool to measure activity, which is currently lacking.

Magnea originates in the Clinical Innovation Fellowship, a partnership between Karolinska Institutet, KTH and Stockholms Läns Landsting to promote health and medical technology development. An independent analysis conducted by Parexel’s consultancy agency shows that Magnea’s system is dominant; It both reduces the risk of fall trauma, blood clots and pressure ulcers, and that the individual clinics using the system save money in their budget.

In connection with the acquisition, one of Magnea’s founders, Henrik Gradin, will join CombiQ. “I am very pleased with this opportunity. Through CombiQ’s strength in development and well-established distribution channels, we have a great opportunity to reach a broad market,” says Henrik Gradin.

“Magnea fits well into our existing product range and their underlying technology regarding machine learning will also complement our industry products. This is a strategic acquisition to become a leader in complete IoT and IIoT systems,” says Daniel Ström, CEO CombiQ AB. “The acquisition of Magnea strengthens our offer to become the first choice in hospital and elderly care.”

Jönköping on June 26, 2017

CombiQ AB

Daniel Ström, CEO

For further information please contact:

Daniel Ström, CEO CombiQ AB, tel. +46 (0) 734 17 50 16

www.combiq.com                     www.magnea.com

_____________________________________________________________

CombiQ develops and manufactures IoT and IIoT systems with wireless sensors to monitor production, diagnosing machinery and fleet service management as well as applications for healthcare and elderly care. The company has its office at Science Park in Jönköping and currently has ten employees and expects strong growth in the coming years.