Bure acquires 24.4% of ScandiNova Systems AB

Bure has entered into agreements with the intention of acquiring 24.4% of the shares in ScandiNova Systems AB (“ScandiNova”) by way of rights issue and acquisition of shares from Industrifonden and SEB Venture Capital. Bure will also offer to acquire shares from other existing shareholders which could increase Bure’s ownership. The transaction is conditional upon approval of the rights issue at ScandiNova’s EGM.

ScandiNova is a world leader in the development and production of Pulsed Power Systems with high power levels (also known as modulators). The company’s products are among others used for linear accelerators in radiotherapy (cancer treatment), science applications and in industrial applications such as cargo scanning. ScandiNovas headquarter and production is in Uppsala and the company has circa 70 employees. The company exports to over 40 countries mainly in Europe, North America and Asia.

”We have followed ScandiNova for a long time and see opportunity in being part of taking the company to the next level. ScandiNova has developed a world leading technology for pulsed modulators which they have successfully commercialized for medical and industrial applications. ScandiNova has a unique position towards customers in radiotherapy for cancer treatment which is a very exciting market” says Henrik Blomquist, CEO of Bure.

“We welcome Bure as an owner in ScandiNova and are looking forward to a long-term cooperation in our continued growth journey. Bure has shown that they are good owners of technologically intensive companies and their experience will contribute to a good development of the company” says Fredrik Mella, CEO of ScandiNova.

The holding in ScandiNova will be reported in Bure Growth, which is a wholly-owned subsidiary of Bure that invests in growth companies.

In connection with the transaction Bure will be represented on the board of ScandiNova.

Bure Equity AB (publ)

Contact at Bure:

Henrik Blomquist, CEO
Tel. +46 (0)8 614 00 20

This information is information that Bure Equity AB (Publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14.30 CET on 11th June 2019.

Press release (PDF)