In the previous press release the interest of the loan fom Lars Persson was omitted. The Interest is set to 5% at a year basis. Invent Medic announces that the company has received a loan of 1.5 MSEK from Swedish state-owned Almi Företagspartner and a loan of 1.0 MSEK from the company’s chairman of the board. The loan from Almi has a duration of 60 months, and the loan from the chairman has a duration of 6 months. For both loans, interest rate will be paid at market terms.
The lenders of the loans to Invent Medic is Almi Företagspartner and the chairman of the board, and the company’s largest shareholder, Lars Persson.
“This financing shows that Invent Medic has a solid plan for the way forward, and that the board has full confidence in our ongoing expansion phase in Europe with Efemia bladder support that will be followed by the United States. We now have the capital needed to operate the company during the ongoing launches of Efemia in Norway, the UK and Germany and in Belgium and the Netherlands in the beginning of 2020. Invent Medic will then have a substantial market presence in Europe, which makes the company even more attractive for potential partners and investors, says Invent Medic’s CEO Karin Bryder.